Anchor Pointe Wealth Management LLC Takes $229,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Anchor Pointe Wealth Management LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,485 shares of the company's stock, valued at approximately $229,000.

Other large investors also recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its stake in American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock worth $5,310,000 after buying an additional 3,288 shares during the period. Parsons Capital Management Inc. RI boosted its stake in American Electric Power by 55.3% during the fourth quarter. Parsons Capital Management Inc. RI now owns 7,864 shares of the company's stock worth $725,000 after buying an additional 2,800 shares during the period. Capital Insight Partners LLC purchased a new position in American Electric Power during the fourth quarter worth $714,000. Allen Capital Group LLC boosted its stake in American Electric Power by 231.8% during the fourth quarter. Allen Capital Group LLC now owns 30,613 shares of the company's stock worth $2,823,000 after buying an additional 21,388 shares during the period. Finally, Avantra Family Wealth Inc. purchased a new stake in shares of American Electric Power during the fourth quarter valued at $458,000. Institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

AEP has been the topic of a number of research analyst reports. BMO Capital Markets upped their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Wells Fargo & Company upped their price target 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. Bank of America upped their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Morgan Stanley cut their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Finally, Guggenheim upped their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.69.

American Electric Power Stock Up 0.6%

NASDAQ:AEP traded up $0.62 during mid-day trading on Friday, reaching $103.15. The company's stock had a trading volume of 3,896,578 shares, compared to its average volume of 3,212,932. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48. The stock has a fifty day moving average of $104.88 and a 200-day moving average of $100.73. The firm has a market capitalization of $55.10 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $0.93 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.61%. American Electric Power's dividend payout ratio is presently 71.68%.

Insiders Place Their Bets

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

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.