American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,133 shares of the company’s stock after purchasing an additional 731 shares during the quarter. Summit Investment Advisors Inc.’s holdings in American Electric Power were worth $2,041,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SouthState Corp grew its holdings in American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after buying an additional 102 shares during the last quarter. PSI Advisors LLC increased its position in 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 purchasing an additional 107 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in 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 purchasing an additional 112 shares during the last quarter. Albion Financial Group UT lifted its holdings in American Electric Power by 0.9% in the 4th quarter. Albion Financial Group UT now owns 12,132 shares of the company’s stock valued at $1,119,000 after purchasing an additional 112 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of American Electric Power by 11.2% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company’s stock worth $103,000 after purchasing an additional 112 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.9 %

Shares of AEP stock opened at $106.58 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $110.48. The firm’s 50 day moving average price is $104.39 and its two-hundred day moving average price is $99.32. The stock has a market cap of $56.88 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share 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 quarter last year, the business posted $1.23 EPS. On average, analysts anticipate 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. Investors of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AEP shares. 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, March 20th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America lifted 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. Finally, BMO Capital Markets increased their target price on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average 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.