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

Cibc World Markets Corp boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,801 shares of the company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp lifted its stake in 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. GWN Securities Inc. purchased a new stake in American Electric Power in the 4th quarter worth approximately $976,000. Glenview Trust co lifted its stake in American Electric Power by 148.5% in the 4th quarter. Glenview Trust co now owns 12,566 shares of the company’s stock worth $1,159,000 after purchasing an additional 7,509 shares in the last quarter. Harbour Investments Inc. lifted its stake in American Electric Power by 7.4% in the 4th quarter. Harbour Investments Inc. now owns 9,917 shares of the company’s stock worth $915,000 after purchasing an additional 687 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its stake in American Electric Power by 201.6% in the 4th quarter. Corient Private Wealth LLC now owns 153,142 shares of the company’s stock worth $14,124,000 after purchasing an additional 303,916 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AEP. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays lowered 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 research report on Tuesday, November 26th. Morgan Stanley lowered their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price objective for the company from $98.00 to $104.00 in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus price target of $98.46.

American Electric Power Price Performance

AEP stock opened at $105.56 on Monday. The firm’s 50-day moving average price is $100.49 and its two-hundred day moving average price is $98.87. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $109.52. The stock has a market capitalization of $56.29 billion, a price-to-earnings ratio of 18.85, a PEG 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 (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (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 period in the previous year, the business earned $1.23 EPS. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

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

American Electric Power Profile

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.