Meridian Investment Counsel Inc. Has $1.64 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Meridian Investment Counsel Inc. lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 62.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,740 shares of the company’s stock after acquiring an additional 6,825 shares during the period. Meridian Investment Counsel Inc.’s holdings in American Electric Power were worth $1,636,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in American Electric Power in the 3rd quarter valued at $25,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power during the fourth quarter worth about $25,000. Fairway Wealth LLC bought a new stake in shares of American Electric Power during the fourth quarter worth about $32,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. bought a new position in American Electric Power in the 4th quarter valued at about $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BMO Capital Markets increased their price objective on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. Scotiabank lowered 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 research report on Thursday, December 12th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley increased their target price on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, Bank of America upped their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.77.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $106.96 on Monday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $109.52. The stock has a market cap of $57.08 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The stock has a fifty day moving average of $102.78 and a 200-day moving average of $99.10.

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 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 quarter last year, the firm posted $1.23 earnings per share. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared 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 3.48%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s payout ratio 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.