CIBC Asset Management Inc Acquires 4,288 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

CIBC Asset Management Inc lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,080 shares of the company's stock after buying an additional 4,288 shares during the quarter. CIBC Asset Management Inc's holdings in American Electric Power were worth $19,283,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. DAVENPORT & Co LLC boosted its stake in American Electric Power by 6.1% during the fourth quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company's stock worth $5,310,000 after acquiring an additional 3,288 shares in the last quarter. Secure Asset Management LLC lifted its holdings in shares of American Electric Power by 22.4% during the fourth quarter. Secure Asset Management LLC now owns 23,916 shares of the company's stock valued at $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust boosted its position in shares of American Electric Power by 436.9% in the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company's stock worth $654,000 after purchasing an additional 5,771 shares in the last quarter. J2 Capital Management Inc purchased a new stake in shares of American Electric Power in the 4th quarter worth approximately $419,000. Finally, Principal Financial Group Inc. increased its position in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company's stock valued at $65,667,000 after buying an additional 19,081 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded up $0.98 during midday trading on Friday, hitting $105.33. 4,001,955 shares of the company's stock traded hands, compared to its average volume of 3,314,018. The firm has a fifty day moving average of $96.51 and a 200 day moving average of $98.09. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $105.73. 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 market capitalization of $56.16 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.24 EPS 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 previous year, the company earned $1.23 earnings per share. On average, analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.53%. American Electric Power's dividend payout ratio (DPR) is presently 66.43%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. Bank of America raised shares of American Electric Power from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $98.00 to $104.00 in a report on Monday, January 13th. UBS Group boosted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the stock a "sell" rating in a report on Thursday, November 7th. Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Barclays lowered 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of "Hold" and an average target price of $98.00.

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.