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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC boosted its position in American Electric Power by 6.1% in the 4th 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 during the last quarter. Secure Asset Management LLC boosted its holdings in American Electric Power by 22.4% in the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock valued at $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust grew its stake in 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 purchased a new stake in American Electric Power during the 4th quarter worth approximately $419,000. Finally, Principal Financial Group Inc. raised its position 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 valued at $65,667,000 after purchasing an additional 19,081 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AEP. Morgan Stanley lifted 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 note on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 target price (down previously from $109.00) on shares of American Electric Power 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. BMO Capital Markets cut 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. Finally, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. 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 company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target of $99.92.

American Electric Power Stock Down 1.0 %

American Electric Power stock opened at $105.11 on Friday. The firm has a market capitalization of $56.10 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.97 and a beta of 0.50. The company has a 50-day simple moving average of $101.89 and a 200-day simple moving average of $99.08. American Electric Power Company, Inc. has a one year low of $79.16 and a one year 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.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting 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 period in the previous year, the business posted $1.23 earnings per share. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.54%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

About American Electric Power

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.