American Electric Power Company, Inc. $AEP Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 76.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,230 shares of the company’s stock after selling 7,350 shares during the quarter. American Electric Power makes up about 3.5% of Garland Capital Management Inc.’s portfolio, making the stock its 17th biggest position. Garland Capital Management Inc.’s holdings in American Electric Power were worth $251,000 at the end of the most recent reporting period.

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

American Electric Power Price Performance

Shares of AEP opened at $120.80 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. The firm has a market cap of $64.52 billion, a PE ratio of 17.61, a PEG ratio of 2.88 and a beta of 0.62. The firm’s 50 day moving average price is $117.03 and its 200 day moving average price is $115.43. American Electric Power Company, Inc. has a twelve month low of $97.46 and a twelve month high of $124.80.

American Electric Power Announces Dividend

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

Insider Transactions at American Electric Power

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 transaction of $575,350.00. Following the transaction, the director directly owned 25,898 shares in the company, valued at $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AEP. Morgan Stanley reiterated an “overweight” rating and set a $125.00 price target on shares of American Electric Power in a report on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. Barclays upped their target price on American Electric Power from $117.00 to $121.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Scotiabank raised their price target on shares of American Electric Power from $121.00 to $131.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of American Electric Power in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.39.

American Electric Power 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.