Elo Mutual Pension Insurance Co Purchases Shares of 39,923 American Electric Power Company, Inc. (NASDAQ:AEP)

Elo Mutual Pension Insurance Co acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,923 shares of the company’s stock, valued at approximately $3,682,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. SouthState Corp raised its holdings in 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 lifted its position in 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 acquiring an additional 107 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in American Electric Power by 3.7% in the fourth 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 grew its holdings in shares of 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 purchasing an additional 112 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its position 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 purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.7 %

Shares of AEP stock opened at $106.96 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $109.52. The firm’s 50 day moving average price is $102.78 and its two-hundred day moving average price is $99.15. The stock has a market cap of $57.08 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share 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 business posted $1.23 EPS. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.48%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AEP shares. Bank of America raised their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets increased their price target on shares of American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, 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 report on Thursday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $100.77.

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.