CIBC Asset Management Inc Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Net Worth Advisory Group purchased a new position in shares of American Electric Power in the 3rd quarter worth about $235,000. Blue Trust Inc. increased its holdings in shares of American Electric Power by 94.0% in the third quarter. Blue Trust Inc. now owns 7,109 shares of the company’s stock worth $729,000 after buying an additional 3,445 shares during the period. Chicago Capital LLC lifted its position in American Electric Power by 4.7% in the third quarter. Chicago Capital LLC now owns 6,646 shares of the company’s stock valued at $682,000 after purchasing an additional 301 shares during the last quarter. Koss Olinger Consulting LLC bought a new stake in American Electric Power during the 3rd quarter valued at $216,000. Finally, Marino Stram & Associates LLC raised its stake in shares of American Electric Power by 2.0% during the third quarter. Marino Stram & Associates LLC now owns 11,131 shares of the company’s stock valued at $1,142,000 after acquiring an additional 216 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $101.83 on Tuesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a one year low of $79.01 and a one year high of $105.18. The firm has a market cap of $54.19 billion, a PE ratio of 20.41, a PEG ratio of 2.84 and a beta of 0.58. The firm has a fifty day moving average of $95.69 and a 200 day moving average of $97.95.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.41% and a net margin of 13.48%. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is presently 74.55%.

Analysts Set New Price Targets

AEP has been the subject of several research reports. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays reduced their price target on shares of 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. Finally, Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price target for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.