Cibc World Market Inc. Trims Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cibc World Market Inc. lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 387,369 shares of the company’s stock after selling 483 shares during the period. Cibc World Market Inc.’s holdings in American Electric Power were worth $35,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Northwestern Mutual Wealth Management Co. boosted its stake in shares of American Electric Power by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,402 shares of the company’s stock worth $4,773,000 after acquiring an additional 714 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of American Electric Power by 5.4% in the 2nd quarter. NewEdge Advisors LLC now owns 25,561 shares of the company’s stock worth $2,243,000 after purchasing an additional 1,317 shares in the last quarter. Sanctuary Advisors LLC bought a new position in American Electric Power in the 2nd quarter worth $12,671,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in American Electric Power during the second quarter valued at $4,246,000. Finally, Trust Co. of Toledo NA OH grew its holdings in American Electric Power by 39.0% during the third quarter. Trust Co. of Toledo NA OH now owns 11,522 shares of the company’s stock valued at $1,182,000 after purchasing an additional 3,232 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AEP shares. Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Morgan Stanley dropped their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. 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. Finally, Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $98.36 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock has a 50 day moving average of $95.09 and a 200 day moving average of $97.48. The firm has a market cap of $52.34 billion, a PE ratio of 19.71, a PEG ratio of 2.78 and a beta of 0.56.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

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.