Cibc World Markets Corp increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 370,801 shares of the company's stock after buying an additional 12,173 shares during the quarter. Cibc World Markets Corp owned about 0.07% of American Electric Power worth $34,199,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of AEP. Oppenheimer Asset Management Inc. lifted its position in American Electric Power by 0.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,677 shares of the company's stock worth $2,737,000 after buying an additional 179 shares during the last quarter. KBC Group NV lifted its position in American Electric Power by 15.1% in the third quarter. KBC Group NV now owns 43,546 shares of the company's stock worth $4,468,000 after buying an additional 5,722 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in American Electric Power by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 12,627 shares of the company's stock worth $1,296,000 after buying an additional 426 shares during the last quarter. Empowered Funds LLC lifted its position in American Electric Power by 14.4% in the third quarter. Empowered Funds LLC now owns 40,960 shares of the company's stock worth $4,202,000 after buying an additional 5,148 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in American Electric Power in the third quarter worth $123,000. 75.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
AEP has been the topic of a number of recent analyst reports. Bank of America increased their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday. BMO Capital Markets reduced their target price on 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. Morgan Stanley increased their target price on American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Thursday. 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 research note on Thursday, December 12th. Finally, Barclays reduced their target price 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, American Electric Power currently has an average rating of "Hold" and an average target price of $99.92.
Check Out Our Latest Stock Report on AEP
American Electric Power Stock Up 0.3 %
Shares of American Electric Power stock traded up $0.37 during trading on Thursday, hitting $106.21. 2,946,103 shares of the stock traded hands, compared to its average volume of 2,762,541. The firm has a market cap of $56.68 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52. The stock's fifty day simple moving average is $101.38 and its 200 day simple moving average is $99.00.
American Electric Power (NASDAQ:AEP - Get Free Report) 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 return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the prior year, the company earned $1.23 EPS. On average, equities 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power's payout ratio is currently 66.43%.
American Electric Power Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider American Electric Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Electric Power wasn't on the list.
While American Electric Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
