AGF Management Ltd. Sells 6,047 Shares of American Electric Power Company, Inc. $AEP

AGF Management Ltd. lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 10.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,871 shares of the company’s stock after selling 6,047 shares during the period. AGF Management Ltd.’s holdings in American Electric Power were worth $5,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in American Electric Power during the third quarter valued at $26,000. Meeder Asset Management Inc. purchased a new position in shares of American Electric Power during the 3rd quarter valued at $26,000. Advantage Trust Co grew its stake in shares of American Electric Power by 57.1% during the 2nd quarter. Advantage Trust Co now owns 275 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Montag A & Associates Inc. increased its holdings in American Electric Power by 166.0% in the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock worth $29,000 after acquiring an additional 176 shares during the last quarter. Finally, GoalVest Advisory LLC increased its holdings in American Electric Power by 277.1% in the 2nd quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after acquiring an additional 230 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AEP. Scotiabank increased their target price on shares of American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 16th. BTIG Research assumed coverage on shares of American Electric Power in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Evercore ISI reiterated an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. Finally, Siebert Williams Shank initiated coverage on American Electric Power in a report on Thursday, December 18th. They issued a “buy” rating and a $137.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and a consensus target price of $127.39.

American Electric Power Stock Performance

American Electric Power stock opened at $120.67 on Wednesday. American Electric Power Company, Inc. has a 1-year low of $97.46 and a 1-year high of $124.80. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $64.45 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62. The firm’s 50 day simple moving average is $117.16 and its 200 day simple moving average is $115.27.

American Electric Power Announces Dividend

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

Insiders Place Their Bets

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the sale, the director owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is owned by corporate insiders.

About American Electric Power

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.