Essential Planning LLC. Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Essential Planning LLC. purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,340 shares of the company’s stock, valued at approximately $2,067,000.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the third quarter worth $33,000. Fairway Wealth LLC bought a new stake in American Electric Power during the fourth quarter worth $32,000. Kestra Investment Management LLC bought a new stake in American Electric Power during the fourth quarter worth $35,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in American Electric Power during the fourth quarter worth $35,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays dropped their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $104.00 in a report on Monday, January 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Morgan Stanley decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $98.46.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $102.96 on Thursday. The stock has a market cap of $54.90 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. 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 stock has a fifty day moving average of $99.97 and a 200-day moving average of $98.78.

American Electric Power (NASDAQ:AEP) last announced its quarterly 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 return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the firm earned $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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio is 66.43%.

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.