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

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 Stock Up 2.0 %

NASDAQ AEP traded up $1.79 during trading on Thursday, reaching $92.26. 2,591,493 shares of the company’s stock traded hands, compared to its average volume of 2,440,236. The firm has a market cap of $49.09 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The company’s 50 day simple moving average is $94.92 and its two-hundred day simple moving average is $96.55. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18.

American Electric Power Increases Dividend

The company 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. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.03%. American Electric Power’s payout ratio is presently 74.55%.

Hedge Funds Weigh In On American Electric Power

Several hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of American Electric Power by 4.3% during the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC grew its position in American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after acquiring an additional 352,588 shares during the last quarter. FMR LLC lifted its holdings in American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of American Electric Power by 109.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the period. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of several research reports. Evercore ISI cut their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus price target of $97.13.

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

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.