Sagespring Wealth Partners LLC Takes $651,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sagespring Wealth Partners LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,061 shares of the company’s stock, valued at approximately $651,000.

Several other large investors have also recently modified their holdings of AEP. SouthState Corp increased its position in shares of American Electric Power by 1.6% during the fourth quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares in 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 valued at $103,000 after buying an additional 107 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its position 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 buying an additional 112 shares in the last quarter. Albion Financial Group UT boosted its holdings in American Electric Power by 0.9% in 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 in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in shares of American Electric Power by 11.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company’s stock worth $103,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.9 %

Shares of NASDAQ:AEP opened at $106.58 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $110.48. The business has a 50 day moving average of $104.39 and a two-hundred day moving average of $99.32. The company has a market capitalization of $56.88 billion, a PE ratio of 19.03, a PEG ratio of 2.97 and a beta of 0.43.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.24 EPS 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 firm earned $1.23 EPS. As a group, analysts forecast 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. Shareholders of record on Monday, February 10th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.49%. The ex-dividend date was Monday, February 10th. American Electric Power’s payout ratio is currently 66.43%.

Analysts Set New Price Targets

AEP has been the subject of several research analyst reports. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America raised their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. BMO Capital Markets boosted their price objective on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. Finally, Morgan Stanley raised their target price on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.77.

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.