American Electric Power Company, Inc. (NASDAQ:AEP) Position Raised by Summit Global Investments

Summit Global Investments raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 180.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,111 shares of the company’s stock after purchasing an additional 25,178 shares during the quarter. Summit Global Investments’ holdings in American Electric Power were worth $3,607,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC boosted its stake in American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after buying an additional 3,288 shares in the last quarter. Secure Asset Management LLC lifted its holdings in American Electric Power by 22.4% in the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after acquiring an additional 4,370 shares during the last quarter. Grove Bank & Trust boosted its position in shares of American Electric Power by 436.9% during the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock valued at $654,000 after purchasing an additional 5,771 shares in the last quarter. J2 Capital Management Inc acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $419,000. Finally, Principal Financial Group Inc. raised its holdings in shares of American Electric Power by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock worth $65,667,000 after purchasing an additional 19,081 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Down 1.0 %

American Electric Power stock opened at $105.11 on Friday. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. 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 firm has a market cap of $56.10 billion, a PE ratio of 18.77, a P/E/G ratio of 2.97 and a beta of 0.50. The firm’s 50 day moving average price is $101.89 and its two-hundred day moving average price is $99.08.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data 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 quarter last year, the business earned $1.23 earnings per share. On average, research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date was Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.54%. American Electric Power’s payout ratio is 66.43%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America lifted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday. 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 report on Tuesday, November 26th. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley upped their price objective on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $99.92.

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.