American Electric Power Company, Inc. $AEP Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,338 shares of the company’s stock after purchasing an additional 6,431 shares during the period. Oppenheimer & Co. Inc.’s holdings in American Electric Power were worth $6,563,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AEP. Harbor Capital Advisors Inc. bought a new stake in shares of American Electric Power during the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in American Electric Power in the third quarter valued at approximately $26,000. Advantage Trust Co grew its holdings in shares of American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Montag A & Associates Inc. grew its holdings in shares of American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares during the last quarter. Finally, GoalVest Advisory LLC raised its position in shares of American Electric Power by 277.1% during the 2nd quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after purchasing an additional 230 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Insider Activity

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

American Electric Power Trading Up 0.1%

NASDAQ:AEP opened at $121.23 on Wednesday. The stock has a fifty day simple moving average of $117.08 and a 200 day simple moving average of $115.68. The firm has a market capitalization of $64.75 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.89 and a beta of 0.62. 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 Company, Inc. has a 1-year low of $97.46 and a 1-year high of $124.80.

American Electric Power Announces Dividend

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

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. BTIG Research started coverage on American Electric Power in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Barclays boosted their price target on shares of American Electric Power from $117.00 to $121.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Mizuho lifted their price objective on shares of American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group upped their target price on shares of American Electric Power from $128.00 to $133.00 in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.39.

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.