American Electric Power Company, Inc. $AEP Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 76.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,230 shares of the company’s stock after selling 7,350 shares during the period. American Electric Power accounts for about 3.5% of Garland Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Garland Capital Management Inc.’s holdings in American Electric Power were worth $251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Investments LLC boosted its holdings in American Electric Power by 0.3% in the third quarter. PFG Investments LLC now owns 24,823 shares of the company’s stock worth $2,793,000 after purchasing an additional 83 shares during the period. Strategic Advisors LLC increased its holdings in shares of American Electric Power by 0.3% in the 3rd quarter. Strategic Advisors LLC now owns 26,605 shares of the company’s stock worth $2,993,000 after acquiring an additional 87 shares during the period. SBI Securities Co. Ltd. lifted its position in American Electric Power by 16.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 632 shares of the company’s stock valued at $71,000 after purchasing an additional 88 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in American Electric Power by 12.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 791 shares of the company’s stock valued at $82,000 after purchasing an additional 89 shares during the period. Finally, LFA Lugano Financial Advisors SA grew its position in American Electric Power by 6.8% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 1,412 shares of the company’s stock worth $159,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a report on Wednesday, January 21st. JPMorgan Chase & Co. lifted their target price on American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Jefferies Financial Group raised American Electric Power from a “hold” rating to a “buy” rating and increased their price target for the stock from $128.00 to $137.00 in a research note on Monday, November 17th. Scotiabank raised their price target on American Electric Power from $121.00 to $131.00 and gave the company a “sector perform” rating in a report on Tuesday, December 16th. Finally, UBS Group reduced their price objective on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating for the company in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.39.

American Electric Power Trading Up 0.2%

Shares of AEP stock opened at $120.80 on Friday. The stock has a 50-day simple moving average of $117.03 and a 200 day simple moving average of $115.43. The stock has a market capitalization of $64.52 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.88 and a beta of 0.62. American Electric Power Company, Inc. has a fifty-two week low of $97.46 and a fifty-two week high of $124.80. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 annualized dividend and a dividend yield of 3.1%. American Electric Power’s payout ratio is currently 55.39%.

Insider Activity at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the completion of the sale, the director directly owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by insiders.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.