Modern Wealth Management LLC Grows Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Modern Wealth Management LLC increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,121 shares of the company’s stock after acquiring an additional 684 shares during the quarter. Modern Wealth Management LLC’s holdings in American Electric Power were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power in the 4th quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power in the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $33,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power during the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AEP. Scotiabank downgraded American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $105.00 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America lifted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley increased their price objective on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, BMO Capital Markets lifted their target price on shares of American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.77.

American Electric Power Trading Up 1.2 %

Shares of American Electric Power stock opened at $105.15 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week 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. The company has a market capitalization of $56.12 billion, a P/E ratio of 18.78, a P/E/G ratio of 2.97 and a beta of 0.50. The company has a fifty day moving average of $102.58 and a 200 day moving average of $99.13.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period last year, the business earned $1.23 earnings per share. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued 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 3.54%. American Electric Power’s dividend payout ratio (DPR) is 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.