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

Summit Financial Strategies Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,270 shares of the company’s stock after buying an additional 342 shares during the quarter. Summit Financial Strategies Inc.’s holdings in American Electric Power were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AEP. Legacy Investment Solutions LLC purchased a new position in American Electric Power in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth approximately $33,000. Reston Wealth Management LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth approximately $48,000. Decker Retirement Planning Inc. purchased a new position in American Electric Power in the 4th quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC acquired a new position in American Electric Power during the third quarter worth $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AEP. BMO Capital Markets lowered their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price objective for the company from $98.00 to $104.00 in a research note 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 report on Friday, November 22nd. Evercore ISI lowered their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $98.18 on Monday. The business has a fifty day simple moving average of $94.87 and a 200-day simple moving average of $97.32. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a market cap of $52.24 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56. 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 Dividend Announcement

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