CIBC Asset Management Inc Buys 3,712 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

CIBC Asset Management Inc grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% in the third quarter, Holdings Channel reports. The fund owned 204,792 shares of the company’s stock after acquiring an additional 3,712 shares during the quarter. CIBC Asset Management Inc’s holdings in American Electric Power were worth $21,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. HHM Wealth Advisors LLC grew its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC increased its position in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. Briaud Financial Planning Inc raised its stake in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Naples Money Management LLC acquired a new position in shares of American Electric Power during the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of American Electric Power in the second quarter worth $48,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 2.7 %

AEP opened at $96.31 on Friday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The business’s 50-day moving average price is $99.74 and its 200-day moving average price is $95.15. The company has a market cap of $51.25 billion, a P/E ratio of 19.30, a P/E/G ratio of 2.69 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.86%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Barclays raised their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Bank of America raised their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Company 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.