American Electric Power Company, Inc. (NYSE:AEP) Position Lowered by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 76,920 shares of the utilities provider’s stock after selling 980 shares during the period. CIBC Asset Management Inc’s holdings in American Electric Power were worth $5,344,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. National Pension Service boosted its stake in American Electric Power by 4.5% in the first quarter. National Pension Service now owns 380,734 shares of the utilities provider’s stock worth $25,570,000 after buying an additional 16,491 shares during the period. Alpha Windward LLC boosted its stake in American Electric Power by 0.8% in the first quarter. Alpha Windward LLC now owns 3,118 shares of the utilities provider’s stock worth $209,000 after buying an additional 24 shares during the period. BKD Wealth Advisors LLC boosted its stake in American Electric Power by 10.3% in the first quarter. BKD Wealth Advisors LLC now owns 7,091 shares of the utilities provider’s stock worth $476,000 after buying an additional 663 shares during the period. Atria Investments LLC boosted its stake in American Electric Power by 5.5% in the first quarter. Atria Investments LLC now owns 3,663 shares of the utilities provider’s stock worth $246,000 after buying an additional 191 shares during the period. Finally, Integrated Wealth Management boosted its stake in American Electric Power by 4.0% in the first quarter. Integrated Wealth Management now owns 9,686 shares of the utilities provider’s stock worth $650,000 after buying an additional 371 shares during the period. Institutional investors and hedge funds own 70.83% of the company’s stock.

American Electric Power Company, Inc. (AEP) opened at 71.36 on Friday. The firm has a market cap of $35.10 billion, a price-to-earnings ratio of 61.41 and a beta of 0.30. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The firm’s 50-day moving average price is $69.90 and its 200-day moving average price is $68.03.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by $0.07. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period in the previous year, the business posted $0.95 EPS. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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Several analysts recently commented on the company. Mizuho reiterated a “buy” rating and set a $72.50 price target on shares of American Electric Power in a research report on Wednesday, April 19th. Barclays PLC reiterated an “overweight” rating and set a $76.00 price target (up from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Jefferies Group LLC boosted their price target on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.17.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

About American Electric Power

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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

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