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

Cibc World Markets Corp raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,871 shares of the company’s stock after buying an additional 55,174 shares during the quarter. Cibc World Markets Corp’s holdings in American Electric Power were worth $11,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AEP. Wellington Management Group LLP grew its holdings in shares of American Electric Power by 14.4% in the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after purchasing an additional 3,589,451 shares in the last quarter. Invesco Ltd. grew its holdings in shares of American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after purchasing an additional 1,181,706 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of American Electric Power by 70.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock valued at $145,835,000 after purchasing an additional 809,067 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of American Electric Power by 18.1% in the third quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after purchasing an additional 660,599 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after purchasing an additional 587,145 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at $563,476.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AEP. BMO Capital Markets raised their price target on American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Royal Bank of Canada raised their price target on American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their price target on American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $86.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $89.57.

Check Out Our Latest Report on American Electric Power

American Electric Power Stock Down 0.3 %

AEP traded down $0.25 on Thursday, hitting $88.70. The company had a trading volume of 2,421,363 shares, compared to its average volume of 3,524,073. The stock has a fifty day moving average price of $87.37 and a 200-day moving average price of $83.18. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $93.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. The stock has a market capitalization of $46.76 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 2.67 and a beta of 0.53.

American Electric Power (NASDAQ:AEPGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

About American Electric Power

(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.

See Also

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEPFree Report).

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.