Investment Management Corp of Ontario Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Investment Management Corp of Ontario grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 337.4% in the 4th quarter, according to its most recent filing with the Securities & 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp lifted its position in American Electric Power by 1.6% during the fourth quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after buying an additional 102 shares in the last quarter. Dark Forest Capital Management LP raised its stake in shares of American Electric Power by 2.3% in the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock valued at $418,000 after acquiring an additional 103 shares during the period. PSI Advisors LLC lifted its holdings in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after acquiring an additional 107 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its position in American Electric Power by 3.7% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock valued at $286,000 after purchasing an additional 112 shares during the period. Finally, Albion Financial Group UT boosted its position in shares of American Electric Power by 0.9% in the fourth quarter. Albion Financial Group UT now owns 12,132 shares of the company’s stock worth $1,119,000 after buying an additional 112 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEP has been the subject of several analyst reports. Morgan Stanley set a $114.00 target price on shares of American Electric Power and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Wells Fargo & Company boosted their price target on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Finally, Barclays upped their target price on American Electric Power from $95.00 to $106.00 and gave the company 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 given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $105.77.

American Electric Power Trading Down 0.5 %

NASDAQ AEP opened at $104.68 on Friday. The firm’s 50 day moving average price is $105.65 and its two-hundred day moving average price is $100.25. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48. The stock has a market cap of $55.92 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating 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 the consensus estimate of $5.33 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. American Electric Power’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a $0.93 dividend. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.55%. 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.