American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,270 shares of the company’s stock after acquiring an additional 342 shares during the quarter. Summit Financial Strategies Inc.’s holdings in American Electric Power were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of American Electric Power by 4.3% in the 3rd quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. Geode Capital Management LLC increased its holdings in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after purchasing an additional 352,588 shares in the last quarter. FMR LLC increased its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after purchasing an additional 341,846 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AEP. Morgan Stanley lowered their target price on 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. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday. Barclays reduced their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. UBS Group raised their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Finally, Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Trading Up 0.7 %

NASDAQ:AEP opened at $98.18 on Monday. The company has a market cap of $52.24 billion, a PE ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56. The business’s 50 day moving average is $94.87 and its two-hundred day moving average is $97.32. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 74.55%.

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.