Mackenzie Financial Corp Sells 99,287 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Mackenzie Financial Corp reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,863 shares of the company's stock after selling 99,287 shares during the quarter. Mackenzie Financial Corp owned 0.05% of American Electric Power worth $25,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power in the fourth quarter valued at $28,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power during the 4th quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new position in American Electric Power during the fourth quarter worth approximately $35,000. Finally, Kestra Investment Management LLC acquired a new position in shares of American Electric Power during the 4th quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president now owns 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by corporate insiders.

American Electric Power Price Performance

Shares of AEP stock traded up $0.49 on Friday, reaching $103.02. The company had a trading volume of 708,348 shares, compared to its average volume of 3,196,465. The business's 50-day moving average is $104.87 and its 200 day moving average is $100.66. American Electric Power Company, Inc. has a one year low of $85.93 and a one year high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $55.03 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the company posted $1.27 EPS. American Electric Power's quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $0.93 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.61%. American Electric Power's payout ratio is 71.68%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Guggenheim upped their target price on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Bank of America upped their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has a consensus rating of "Hold" and an average target price of $105.69.

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.