Wellington Management Group LLP Grows Stake in American Electric Power Company Inc (NYSE:AEP)

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Wellington Management Group LLP grew its position in American Electric Power Company Inc (NYSE:AEP) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,717,322 shares of the utilities provider’s stock after purchasing an additional 36,168 shares during the quarter. Wellington Management Group LLP’s holdings in American Electric Power were worth $697,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Beese Fulmer Investment Management Inc. grew its holdings in American Electric Power by 0.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 18,661 shares of the utilities provider’s stock worth $1,764,000 after purchasing an additional 100 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in American Electric Power by 0.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 30,415 shares of the utilities provider’s stock worth $2,875,000 after purchasing an additional 110 shares during the last quarter. Coastal Investment Advisors Inc. grew its holdings in American Electric Power by 30.1% in the fourth quarter. Coastal Investment Advisors Inc. now owns 501 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 116 shares during the last quarter. Allred Capital Management LLC grew its holdings in shares of American Electric Power by 6.2% during the first quarter. Allred Capital Management LLC now owns 2,050 shares of the utilities provider’s stock valued at $164,000 after buying an additional 119 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of American Electric Power by 0.3% during the fourth quarter. Profund Advisors LLC now owns 39,253 shares of the utilities provider’s stock valued at $3,710,000 after buying an additional 122 shares during the last quarter. 74.60% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on AEP shares. Seaport Global Securities started coverage on shares of American Electric Power in a report on Wednesday, May 20th. They set a “buy” rating and a $86.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of American Electric Power from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Bank of America lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Friday, May 15th. BMO Capital Markets started coverage on shares of American Electric Power in a report on Wednesday, February 19th. They set an “outperform” rating and a $111.00 price objective on the stock. Finally, Goldman Sachs Group boosted their price objective on shares of American Electric Power from $90.00 to $99.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $95.61.

Shares of American Electric Power stock traded down $4.14 during trading hours on Thursday, reaching $81.23. The stock had a trading volume of 170,395 shares, compared to its average volume of 3,377,438. The stock’s 50 day moving average is $81.78 and its 200 day moving average is $89.85. The firm has a market capitalization of $42.58 billion, a PE ratio of 22.09, a PEG ratio of 3.47 and a beta of 0.39. American Electric Power Company Inc has a twelve month low of $65.14 and a twelve month high of $104.97. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 1.33.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.07). The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The company’s revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. As a group, sell-side analysts predict that American Electric Power Company Inc will post 4.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. American Electric Power’s dividend payout ratio (DPR) is currently 66.04%.

In other American Electric Power news, CEO Nicholas K. Akins sold 16,519 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $81.90, for a total value of $1,352,906.10. Following the completion of the transaction, the chief executive officer now owns 134,743 shares in the company, valued at $11,035,451.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark C. Mccullough sold 2,244 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $81.19, for a total transaction of $182,190.36. Following the sale, the executive vice president now directly owns 10,530 shares of the company’s stock, valued at approximately $854,930.70. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

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.

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

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