Meridian Investment Counsel Inc. Has $1.64 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Meridian Investment Counsel Inc. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 62.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,740 shares of the company's stock after acquiring an additional 6,825 shares during the period. Meridian Investment Counsel Inc.'s holdings in American Electric Power were worth $1,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. SouthState Corp boosted its position in shares of American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company's stock worth $610,000 after purchasing an additional 102 shares during the last quarter. PSI Advisors LLC grew its position in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company's stock worth $103,000 after buying an additional 107 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in shares of American Electric Power by 3.7% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company's stock valued at $286,000 after acquiring an additional 112 shares during the last quarter. Albion Financial Group UT boosted its stake in American Electric Power by 0.9% during the 4th quarter. Albion Financial Group UT now owns 12,132 shares of the company's stock worth $1,119,000 after acquiring an additional 112 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in American Electric Power by 11.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company's stock valued at $103,000 after purchasing an additional 112 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

American Electric Power stock traded down $3.05 during midday trading on Friday, reaching $106.06. 2,915,526 shares of the company's stock were exchanged, compared to its average volume of 3,084,003. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock's 50-day simple moving average is $103.67 and its 200 day simple moving average is $99.30. The firm has a market cap of $56.60 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.97 and a beta of 0.43. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $110.81.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.51%. American Electric Power's payout ratio is currently 66.43%.

Analysts Set New Price Targets

AEP has been the subject of several research analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Bank of America boosted their price objective on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Guggenheim upgraded shares of American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Scotiabank cut shares of American Electric Power from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets boosted their price target on American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $100.77.

American Electric Power Profile

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.