American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Boosted by Cambridge Trust Co.

Posted by Defense World Staff on Mar 19th, 2023

Cambridge Trust Co. lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 12.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,166 shares of the company’s stock after buying an additional 243 shares during the period. Cambridge Trust Co.’s holdings in American Electric Power were worth $206,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Neo Ivy Capital Management lifted its stake in American Electric Power by 12.7% during the second quarter. Neo Ivy Capital Management now owns 899 shares of the company’s stock worth $86,000 after purchasing an additional 101 shares during the period. Jaffetilchin Investment Partners LLC raised its holdings in shares of American Electric Power by 2.0% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 6,010 shares of the company’s stock worth $592,000 after buying an additional 117 shares in the last quarter. McDonough Capital Management Inc raised its holdings in shares of American Electric Power by 4.3% in the 3rd quarter. McDonough Capital Management Inc now owns 2,892 shares of the company’s stock worth $250,000 after buying an additional 119 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of American Electric Power by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock worth $2,445,000 after buying an additional 119 shares during the period. Finally, Cornerstone Advisory LLC boosted its stake in American Electric Power by 3.8% in the 3rd quarter. Cornerstone Advisory LLC now owns 3,402 shares of the company’s stock valued at $294,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.

Insider Buying and Selling

In other American Electric Power news, EVP Greg B. Hall sold 884 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.99, for a total transaction of $80,435.16. Following the transaction, the executive vice president now directly owns 7,331 shares in the company, valued at approximately $667,047.69. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American Electric Power news, insider Nicholas K. Akins sold 6,977 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $90.39, for a total value of $630,651.03. Following the transaction, the insider now directly owns 143,547 shares of the company’s stock, valued at $12,975,213.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Greg B. Hall sold 884 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.99, for a total transaction of $80,435.16. Following the sale, the executive vice president now owns 7,331 shares of the company’s stock, valued at approximately $667,047.69. The disclosure for this sale can be found here. Insiders sold a total of 63,897 shares of company stock worth $5,723,900 over the last three months. 0.12% of the stock is currently owned by company insiders.

American Electric Power Price Performance

AEP opened at $90.70 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.65 and a quick ratio of 0.56. The stock has a market capitalization of $46.61 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 2.88 and a beta of 0.44. The company’s 50 day simple moving average is $91.43 and its 200-day simple moving average is $91.08. American Electric Power Company, Inc. has a one year low of $80.30 and a one year high of $105.60.

American Electric Power (NASDAQ:AEP – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a return on equity of 10.75% and a net margin of 11.77%. During the same quarter in the prior year, the business earned $0.98 EPS. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.26 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were given a $0.83 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $3.32 dividend on an annualized basis and a yield of 3.66%. American Electric Power’s payout ratio is 73.61%.

Analyst Ratings Changes

AEP has been the subject of several recent analyst reports. Bank of America lowered American Electric Power from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $101.00 to $98.00 in a research note on Monday, December 19th. Cfra increased their target price on shares of American Electric Power from $93.00 to $96.00 and gave the stock a “hold” rating in a research report on Friday, February 24th. Royal Bank of Canada reduced their price target on shares of American Electric Power from $109.00 to $103.00 and set an “outperform” rating on the stock in a research report on Thursday, March 2nd. Wells Fargo & Company lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $108.00 to $99.00 in a report on Wednesday, February 1st. Finally, StockNews.com started coverage on American Electric Power in a report on Friday. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.83.

About American Electric Power

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.