Summit Financial LLC Has $2.74 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Summit Financial LLC boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 46.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,742 shares of the company's stock after buying an additional 9,367 shares during the quarter. Summit Financial LLC's holdings in American Electric Power were worth $2,743,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AEP. Vanguard Group Inc. raised its position in shares of American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock valued at $4,767,425,000 after buying an additional 763,813 shares during the last quarter. State Street Corp increased its stake in American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company's stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. GQG Partners LLC raised its holdings in American Electric Power by 3.7% in the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after acquiring an additional 543,054 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company's stock worth $1,280,655,000 after acquiring an additional 352,588 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of American Electric Power by 2.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company's stock worth $427,009,000 after purchasing an additional 100,578 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

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American Electric Power Trading Down 4.2 %

Shares of NASDAQ AEP traded down $4.63 during midday trading on Friday, reaching $104.48. 7,367,841 shares of the stock were exchanged, compared to its average volume of 3,107,684. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month high of $110.48. The company has a market capitalization of $55.76 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.97 and a beta of 0.43. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The business has a 50-day simple moving average of $103.79 and a two-hundred day simple moving average of $99.26.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the prior year, the company earned $1.23 earnings per share. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, February 10th. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AEP shares. BMO Capital Markets boosted their price target on shares of American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a report on Wednesday, March 26th. Morgan Stanley increased their price target on shares of American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $100.77.

American Electric Power Company 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.