Spirit of America Management Corp NY Has $1.24 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Spirit of America Management Corp NY lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 22.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,450 shares of the company’s stock after purchasing an additional 2,450 shares during the quarter. Spirit of America Management Corp NY’s holdings in American Electric Power were worth $1,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new stake in American Electric Power during the third quarter worth about $48,000. Decker Retirement Planning Inc. bought a new stake in American Electric Power during the fourth quarter worth about $49,000. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the third quarter worth about $50,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AEP has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets dropped their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Trading Down 1.5 %

Shares of NASDAQ:AEP opened at $97.88 on Wednesday. The company has a market capitalization of $52.08 billion, a P/E ratio of 19.62, a P/E/G ratio of 2.79 and a beta of 0.58. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The business’s 50 day simple moving average is $95.13 and its 200 day simple moving average is $97.64.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

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.