Summit Global Investments increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 180.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,111 shares of the company's stock after purchasing an additional 25,178 shares during the period. Summit Global Investments' holdings in American Electric Power were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the third quarter worth $25,000. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new position in American Electric Power in the 4th quarter valued at about $32,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power during the third quarter valued at about $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of American Electric Power during the fourth quarter worth about $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on AEP shares. Morgan Stanley increased their price target on American Electric Power from $108.00 to $113.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Barclays reduced their target price on American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Bank of America raised their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus price target of $100.77.
View Our Latest Stock Analysis on American Electric Power
American Electric Power Stock Performance
AEP stock traded up $1.40 during mid-day trading on Wednesday, reaching $103.90. The company had a trading volume of 5,938,478 shares, compared to its average volume of 2,859,607. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The stock's 50-day simple moving average is $102.24 and its two-hundred day simple moving average is $99.05. The stock has a market capitalization of $55.45 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $109.52.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period last year, the company earned $1.23 EPS. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.58%. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.
About American Electric Power
(
Free Report)
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.
Featured Articles
Before you consider American Electric Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Electric Power wasn't on the list.
While American Electric Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
