Investment Management Corp of Ontario Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Investment Management Corp of Ontario increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 337.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,721 shares of the company's stock after buying an additional 59,179 shares during the period. Investment Management Corp of Ontario's holdings in American Electric Power were worth $7,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power during the fourth quarter worth $25,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power during the fourth quarter worth about $35,000. Kestra Investment Management LLC acquired a new position in American Electric Power in the 4th quarter worth approximately $35,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of American Electric Power in the 4th quarter valued at $38,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AEP has been the subject of several recent research reports. Morgan Stanley set a $114.00 price target on American Electric Power and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Bank of America upped their price target on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Citigroup increased their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Barclays upped their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $105.77.

American Electric Power Trading Down 1.0%

NASDAQ AEP traded down $0.97 on Wednesday, reaching $98.59. 5,206,998 shares of the company were exchanged, compared to its average volume of 3,188,162. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The stock has a market capitalization of $52.67 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45. The business's fifty day moving average price is $105.42 and its 200 day moving average price is $100.26. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

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

American Electric Power Announces Dividend

The firm 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. This represents a $3.72 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's dividend payout ratio is presently 71.68%.

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.