Rep. Virginia Foxx Purchases Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

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 Performance

Shares of AEP opened at $92.26 on Thursday. The stock has a market capitalization of $49.09 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.70 and a beta of 0.56. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The firm has a fifty day simple moving average of $94.92 and a 200 day simple moving average of $96.55. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.03%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Institutional Investors Weigh In On American Electric Power

A number of institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after buying an additional 105 shares in the last quarter. XML Financial LLC grew its position in American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after acquiring an additional 106 shares during the last quarter. Garrison Asset Management LLC raised its stake in American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after acquiring an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY lifted its holdings in shares of American Electric Power by 2.2% in the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group increased their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Morgan Stanley lowered their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Evercore ISI cut their target price on shares of 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. Finally, Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.

American Electric Power Company 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.