American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Verity Asset Management Inc.

Verity Asset Management Inc. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 32.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,971 shares of the company’s stock after purchasing an additional 724 shares during the quarter. Verity Asset Management Inc.’s holdings in American Electric Power were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC raised its stake in American Electric Power by 7.9% in the 4th quarter. Rockline Wealth Management LLC now owns 28,900 shares of the company’s stock valued at $2,665,000 after purchasing an additional 2,119 shares during the last quarter. abrdn plc grew its holdings in American Electric Power by 4.4% in the 4th quarter. abrdn plc now owns 375,499 shares of the company’s stock valued at $34,373,000 after buying an additional 15,791 shares in the last quarter. F&V Capital Management LLC grew its holdings in American Electric Power by 1.0% in the 4th quarter. F&V Capital Management LLC now owns 132,540 shares of the company’s stock valued at $12,224,000 after buying an additional 1,355 shares in the last quarter. Chicago Capital LLC grew its holdings in American Electric Power by 6.2% in the 4th quarter. Chicago Capital LLC now owns 7,055 shares of the company’s stock valued at $651,000 after buying an additional 409 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in American Electric Power by 3.9% in the 4th quarter. Greenleaf Trust now owns 9,746 shares of the company’s stock valued at $899,000 after buying an additional 369 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

AEP opened at $97.88 on Wednesday. The stock’s 50-day moving average price is $95.13 and its 200 day moving average price is $97.64. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market cap of $52.08 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 2.79 and a beta of 0.58.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AEP. Wells Fargo & Company dropped their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. UBS Group upped their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Evercore ISI lowered their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.00.

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.