American Electric Power (NASDAQ:AEP) Stock Acquired Rep. Virginia Foxx

by · The Markets Daily

Representative Virginia Foxx (R-North Carolina) recently bought shares of American Electric Power Company, Inc. (NASDAQ:AEP). In a filing disclosed on January 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in American Electric Power stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

  • Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
  • Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
  • Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
  • Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.
  • Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.

American Electric Power Price Performance

AEP traded up $1.79 during trading on Thursday, hitting $92.26. 2,591,493 shares of the company traded hands, compared to its average volume of 2,440,236. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market cap of $49.09 billion, a PE ratio of 18.49, a P/E/G ratio of 2.70 and a beta of 0.56. The stock’s 50-day simple moving average is $94.92 and its two-hundred day simple moving average is $96.55. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 4.03%. American Electric Power’s payout ratio is currently 74.55%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of American Electric Power during the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power during the third quarter valued at $48,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of American Electric Power in the third quarter valued at about $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays lowered their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. Evercore ISI cut their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, UBS Group boosted their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $97.13.

Get Our Latest Analysis on American Electric Power

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

About American Electric Power

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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.

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