CIBC World Markets Inc. Sells 12,216 Shares of American Electric Power Company Inc (AEP)

CIBC World Markets Inc. decreased its stake in American Electric Power Company Inc (NYSE:AEP) by 43.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,034 shares of the utilities provider’s stock after selling 12,216 shares during the period. CIBC World Markets Inc.’s holdings in American Electric Power were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. NuWave Investment Management LLC increased its stake in shares of American Electric Power by 977.2% in the first quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,329 shares during the period. Icon Wealth Partners LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $117,000. Optimum Investment Advisors acquired a new stake in shares of American Electric Power in the first quarter valued at about $141,000. Jacobi Capital Management LLC increased its stake in shares of American Electric Power by 367.9% in the first quarter. Jacobi Capital Management LLC now owns 2,438 shares of the utilities provider’s stock valued at $166,000 after buying an additional 1,917 shares during the period. Finally, Bristol John W & Co. Inc. NY acquired a new stake in shares of American Electric Power in the first quarter valued at about $168,000. 72.27% of the stock is owned by institutional investors.

American Electric Power opened at $69.25 on Friday, according to MarketBeat. American Electric Power Company Inc has a one year low of $62.71 and a one year high of $78.07. The company has a market cap of $34.40 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 3.17 and a beta of 0.18. The company has a quick ratio of 0.34, a current ratio of 0.44 and a debt-to-equity ratio of 1.02.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, April 26th. The utilities provider reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.02). American Electric Power had a net margin of 11.41% and a return on equity of 9.93%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4 billion. During the same period last year, the business posted $0.96 EPS. The company’s revenue was up 2.6% on a year-over-year basis. research analysts predict that American Electric Power Company Inc will post 3.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 10th were paid a $0.62 dividend. The ex-dividend date was Wednesday, May 9th. This represents a $2.48 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s dividend payout ratio (DPR) is presently 67.39%.

In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $69.63, for a total value of $50,203.23. Following the completion of the sale, the executive vice president now owns 7,386 shares of the company’s stock, valued at $514,287.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Several equities research analysts have recently weighed in on AEP shares. Morgan Stanley set a $71.00 price target on American Electric Power and gave the company a “buy” rating in a research note on Thursday, March 8th. SunTrust Banks set a $76.00 target price on American Electric Power and gave the stock a “buy” rating in a research note on Monday, March 19th. JPMorgan Chase & Co. decreased their target price on American Electric Power from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. KeyCorp raised their target price on American Electric Power from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 18th. Finally, Argus decreased their target price on American Electric Power from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, May 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $74.00.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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