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 Price Performance

Shares of AEP traded up $1.79 on Thursday, hitting $92.26. The company's stock had a trading volume of 2,591,493 shares, compared to its average volume of 2,440,236. The company has a market capitalization of $49.09 billion, a PE ratio of 18.49, a PEG ratio of 2.70 and a beta of 0.56. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a 50 day moving average price of $94.79 and a 200 day moving average price of $96.52. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a dividend of $0.93 per share. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 4.03%. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a "hold" rating and a $107.00 price objective on the stock. Barclays reduced their price objective on American Electric Power from $100.00 to $99.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 26th. Morgan Stanley lowered their target price on American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Scotiabank cut American Electric Power from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of "Hold" and a consensus target price of $97.13.

Institutional Trading of American Electric Power

Several hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank grew its stake in American Electric Power by 35.9% in the fourth quarter. First Hawaiian Bank now owns 20,171 shares of the company's stock valued at $1,860,000 after acquiring an additional 5,324 shares during the period. Peoples Bank KS grew its position in shares of American Electric Power by 14.8% in the 4th quarter. Peoples Bank KS now owns 3,887 shares of the company's stock valued at $358,000 after purchasing an additional 500 shares during the period. Diversified Trust Co grew its position in shares of American Electric Power by 8.5% in the 4th quarter. Diversified Trust Co now owns 6,103 shares of the company's stock valued at $563,000 after purchasing an additional 478 shares during the period. CWA Asset Management Group LLC raised its holdings in American Electric Power by 24.7% during the 4th quarter. CWA Asset Management Group LLC now owns 14,684 shares of the company's stock worth $1,354,000 after buying an additional 2,909 shares during the period. Finally, Centre Asset Management LLC lifted its stake in American Electric Power by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 3,721 shares of the company's stock valued at $343,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

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.