Carret Asset Management LLC Has $5.36 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Carret Asset Management LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,291 shares of the company’s stock after purchasing an additional 1,845 shares during the quarter. Carret Asset Management LLC’s holdings in American Electric Power were worth $5,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of American Electric Power by 1.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,389,249 shares of the company’s stock worth $119,614,000 after buying an additional 22,048 shares in the last quarter. Eagle Ridge Investment Management acquired a new position in American Electric Power during the 1st quarter worth about $204,000. Capital Advisors Ltd. LLC grew its holdings in American Electric Power by 27.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 869 shares of the company’s stock worth $75,000 after acquiring an additional 187 shares during the last quarter. Claro Advisors LLC raised its stake in shares of American Electric Power by 1.5% in the first quarter. Claro Advisors LLC now owns 11,026 shares of the company’s stock worth $949,000 after acquiring an additional 163 shares during the last quarter. Finally, Kowal Investment Group LLC acquired a new position in shares of American Electric Power during the first quarter worth approximately $207,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded down $0.06 during trading on Wednesday, reaching $87.56. 1,150,872 shares of the company traded hands, compared to its average volume of 3,368,199. The firm has a market capitalization of $46.15 billion, a PE ratio of 16.26, a PEG ratio of 2.60 and a beta of 0.53. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $93.44. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $88.88 and its two-hundred day moving average is $84.23.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the business posted $1.11 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.02%. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several analyst reports. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley decreased their price objective on American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday, June 24th. Barclays raised their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets raised their price objective on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Finally, LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $88.62.

Insider Activity

In other news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

American Electric Power Profile

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.