Alpha Cubed Investments LLC Increases Stock Holdings in American Electric Power Company, Inc. $AEP

Alpha Cubed Investments LLC increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 665,602 shares of the company’s stock after buying an additional 6,664 shares during the period. American Electric Power comprises about 2.6% of Alpha Cubed Investments LLC’s holdings, making the stock its 15th largest position. Alpha Cubed Investments LLC owned about 0.12% of American Electric Power worth $74,880,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in American Electric Power during the third quarter worth about $26,000. Harbor Capital Advisors Inc. purchased a new position in shares of American Electric Power during the 3rd quarter worth approximately $26,000. Advantage Trust Co raised its position 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 purchasing an additional 100 shares during the last quarter. Montag A & Associates Inc. lifted its stake in American Electric Power by 166.0% in the 2nd quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after buying an additional 176 shares in the last quarter. Finally, Osterweis Capital Management Inc. grew its holdings in American Electric Power by 3,000.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 310 shares of the company’s stock valued at $32,000 after buying an additional 300 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on American Electric Power from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Siebert Williams Shank initiated coverage on shares of American Electric Power in a research note on Thursday, December 18th. They issued a “buy” rating and a $137.00 target price for the company. Citigroup upped their target price on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Scotiabank lifted 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, TD Cowen raised shares of American Electric Power to a “strong-buy” rating in a research note on Thursday, October 30th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and a consensus target price of $127.39.

American Electric Power Trading Up 0.1%

Shares of AEP stock opened at $119.21 on Friday. The firm’s 50-day simple moving average is $117.27 and its 200-day simple moving average is $114.85. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. American Electric Power Company, Inc. has a 1-year low of $97.32 and a 1-year high of $124.80. The firm has a market cap of $63.67 billion, a P/E ratio of 17.38, a PEG ratio of 2.84 and a beta of 0.63.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.65 billion. American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the company posted $1.85 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio is presently 55.39%.

Insider Buying and Selling at American Electric Power

In related news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the transaction, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.

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.