Hanson McClain Inc. Purchases 412 Shares of American Electric Power Company Inc (NYSE:AEP)

Hanson McClain Inc. boosted its position in shares of American Electric Power Company Inc (NYSE:AEP) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,889 shares of the utilities provider’s stock after purchasing an additional 412 shares during the period. Hanson McClain Inc.’s holdings in American Electric Power were worth $518,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of American Electric Power by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock worth $443,292,000 after purchasing an additional 438,632 shares during the period. Pictet Asset Management Ltd. lifted its position in shares of American Electric Power by 1.0% in the 1st quarter. Pictet Asset Management Ltd. now owns 3,109,922 shares of the utilities provider’s stock worth $260,456,000 after purchasing an additional 29,898 shares during the period. California Public Employees Retirement System lifted its position in shares of American Electric Power by 18.4% in the 1st quarter. California Public Employees Retirement System now owns 3,105,375 shares of the utilities provider’s stock worth $260,075,000 after purchasing an additional 481,496 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of American Electric Power by 6.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,106,930 shares of the utilities provider’s stock worth $176,455,000 after purchasing an additional 131,313 shares during the period. Finally, Swiss National Bank lifted its position in shares of American Electric Power by 2.7% in the 1st quarter. Swiss National Bank now owns 2,014,289 shares of the utilities provider’s stock worth $168,697,000 after purchasing an additional 53,800 shares during the period. Institutional investors own 73.44% of the company’s stock.

Several brokerages have recently weighed in on AEP. KeyCorp began coverage on shares of American Electric Power in a research report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Bank of America reissued a “buy” rating and set a $98.00 target price (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price for the company in a research report on Thursday, July 11th. Morgan Stanley increased their target price on shares of American Electric Power from $88.00 to $92.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. Finally, UBS Group increased their target price on shares of American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power presently has an average rating of “Buy” and an average price target of $87.45.

In other American Electric Power news, EVP Paul Chodak III sold 1,303 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total value of $112,735.56. Following the completion of the transaction, the executive vice president now owns 8,152 shares of the company’s stock, valued at $705,311.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $89.73, for a total transaction of $400,016.34. Following the completion of the transaction, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,943 shares of company stock valued at $1,564,911. Corporate insiders own 0.16% of the company’s stock.

NYSE:AEP traded up $0.19 during midday trading on Monday, reaching $88.89. 319,318 shares of the stock traded hands, compared to its average volume of 1,834,931. American Electric Power Company Inc has a 12-month low of $68.92 and a 12-month high of $91.99. The firm has a 50-day moving average price of $89.86. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.49 and a quick ratio of 0.36. The company has a market cap of $43.80 billion, a PE ratio of 22.50, a PEG ratio of 3.79 and a beta of 0.13.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. American Electric Power’s revenue for the quarter was down 10.0% compared to the same quarter last year. Equities analysts forecast that American Electric Power Company Inc will post 4.13 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.01%. American Electric Power’s dividend payout ratio is currently 67.85%.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Further Reading: Inflation

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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