Cibc World Markets Corp Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Cibc World Markets Corp lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 370,801 shares of the company’s stock after buying an additional 12,173 shares during the period. Cibc World Markets Corp’s holdings in American Electric Power were worth $34,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AEP. Raymond James Financial Inc. purchased a new position in shares of American Electric Power during the fourth quarter valued at about $220,983,000. Janus Henderson Group PLC grew its holdings in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the period. State Street Corp grew its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares during the period. FMR LLC grew its holdings in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the period. Finally, Zacks Investment Management purchased a new stake in American Electric Power in the third quarter worth about $80,207,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 1.3 %

Shares of American Electric Power stock opened at $105.56 on Monday. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company’s 50 day moving average is $100.49 and its 200 day moving average is $98.87. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. 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 (NASDAQ:AEP) last issued its quarterly earnings data 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 net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the prior year, the business earned $1.23 EPS. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.52%. American Electric Power’s dividend payout ratio is currently 66.43%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AEP shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Barclays cut their price objective on shares of 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. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, BMO Capital Markets dropped their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus price target of $98.46.

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.