Anchor Pointe Wealth Management LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Anchor Pointe Wealth Management LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,485 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors have also recently made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power during the fourth quarter valued at $28,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at $32,000. Kestra Investment Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter worth about $35,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of American Electric Power in the 4th quarter worth about $35,000. Institutional investors own 75.24% of the company’s stock.

Insider Buying and Selling

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Price Performance

AEP opened at $102.91 on Wednesday. The company’s 50-day simple moving average is $104.97 and its two-hundred day simple moving average is $100.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock has a market capitalization of $54.97 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the company earned $1.27 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.93 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.61%. American Electric Power’s dividend payout ratio (DPR) is currently 71.68%.

Analyst Ratings Changes

A number of brokerages have weighed in on AEP. Wells Fargo & Company upped their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. BMO Capital Markets lifted their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Guggenheim boosted their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Finally, Barclays raised their price target on American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $105.69.

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.