American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by SouthState Corp

SouthState Corp grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,611 shares of the company’s stock after acquiring an additional 102 shares during the quarter. SouthState Corp’s holdings in American Electric Power were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AEP. PSI Advisors LLC increased its position in shares of American Electric Power by 10.6% in the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after buying an additional 107 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its holdings in American Electric Power by 3.7% during 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 in the last quarter. Albion Financial Group UT raised its position in American Electric Power by 0.9% during the fourth 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. GHP Investment Advisors Inc. lifted its holdings in shares of 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. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of American Electric Power by 8.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,408 shares of the company’s stock valued at $130,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.3 %

AEP stock opened at $105.86 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. The company has a market cap of $56.45 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 2.97 and a beta of 0.50. The business has a fifty day simple moving average of $100.80 and a 200-day simple moving average of $98.91. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $109.52.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates 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 business posted $1.23 EPS. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is currently 66.43%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AEP. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Morgan Stanley cut their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Barclays cut their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $98.46.

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.