SteelPeak Wealth LLC Invests $2.41 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

SteelPeak Wealth LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,072 shares of the company’s stock, valued at approximately $2,405,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Legacy Investment Solutions LLC bought a new position in American Electric Power in the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the third quarter worth $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power in the third quarter worth about $48,000. Decker Retirement Planning Inc. bought a new position in American Electric Power in the 4th quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power during the third quarter valued at $50,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AEP. 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 research note on Tuesday, November 26th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Morgan Stanley dropped their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, BMO Capital Markets dropped their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

NASDAQ:AEP opened at $100.00 on Wednesday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The firm has a market capitalization of $53.21 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.77 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The business’s fifty day moving average price is $94.99 and its 200 day moving average price is $97.41.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.72%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 74.55%.

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.