Canada Pension Plan Investment Board Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Canada Pension Plan Investment Board grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 892,870 shares of the company’s stock after buying an additional 82,300 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.17% of American Electric Power worth $75,180,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AEP. Penserra Capital Management LLC bought a new stake in American Electric Power during the 1st quarter worth approximately $27,000. True Wealth Design LLC bought a new position in American Electric Power in the 4th quarter worth $28,000. Horizon Bancorp Inc. IN increased its stake in American Electric Power by 66.7% in the 1st quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Chilton Capital Management LLC bought a new stake in American Electric Power during the first quarter valued at about $28,000. Finally, Marquette Asset Management LLC lifted its position in shares of American Electric Power by 84.5% in the second quarter. Marquette Asset Management LLC now owns 369 shares of the company’s stock valued at $31,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 74.68% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $78.09 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.60. The stock’s fifty day moving average is $76.40 and its 200 day moving average is $81.31. The firm has a market capitalization of $41.07 billion, a PE ratio of 17.82, a PEG ratio of 3.05 and a beta of 0.49. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $100.32.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Thursday, November 2nd. The company reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.08). American Electric Power had a net margin of 11.72% and a return on equity of 10.73%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company posted $1.62 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.27 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Thursday, November 9th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.83. American Electric Power’s payout ratio is 80.73%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AEP shares. Barclays decreased their target price on American Electric Power from $88.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 24th. Guggenheim lowered their target price on shares of American Electric Power from $96.00 to $85.00 in a report on Monday, October 9th. Cfra cut their target price on shares of American Electric Power from $99.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Royal Bank of Canada decreased their price target on shares of American Electric Power from $103.00 to $89.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 6th. Finally, Bank of America reduced their target price on American Electric Power from $91.00 to $77.00 in a report on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Moderate Buy” and an average target price of $91.37.

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.