Sandy Spring Bank Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sandy Spring Bank decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,900 shares of the company’s stock after selling 815 shares during the quarter. Sandy Spring Bank’s holdings in American Electric Power were worth $452,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. SouthState Corp boosted its position in shares of American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares in the last quarter. PSI Advisors LLC lifted its position in American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock worth $103,000 after acquiring an additional 107 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in American Electric Power by 3.7% during the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock worth $286,000 after acquiring an additional 112 shares during the period. Albion Financial Group UT lifted its position in American Electric Power by 0.9% during the 4th quarter. Albion Financial Group UT now owns 12,132 shares of the company’s stock worth $1,119,000 after acquiring an additional 112 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in American Electric Power by 11.2% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company’s stock worth $103,000 after acquiring an additional 112 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $105.11 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. The business has a 50-day moving average price of $101.89 and a 200 day moving average price of $99.08. The firm has a market cap of $56.10 billion, a PE ratio of 18.77, a P/E/G ratio of 2.97 and a beta of 0.50.

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 last year, the firm posted $1.23 earnings per share. Sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.54%. American Electric Power’s dividend payout ratio (DPR) is currently 66.43%.

Analysts Set New Price Targets

A number of brokerages have commented on AEP. Morgan Stanley lifted their price target on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America lifted their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets lowered their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays lowered their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $99.92.

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.