Mackenzie Financial Corp Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Mackenzie Financial Corp lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 385,817 shares of the company’s stock after selling 42,588 shares during the period. Mackenzie Financial Corp owned approximately 0.07% of American Electric Power worth $31,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. FSC Wealth Advisors LLC raised its stake in American Electric Power by 222.0% during the third quarter. FSC Wealth Advisors LLC now owns 351 shares of the company’s stock valued at $26,000 after buying an additional 242 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in American Electric Power during the second quarter valued at approximately $26,000. Penserra Capital Management LLC acquired a new stake in American Electric Power during the first quarter valued at approximately $27,000. True Wealth Design LLC acquired a new stake in American Electric Power during the fourth quarter valued at approximately $28,000. Finally, Chilton Capital Management LLC acquired a new stake in American Electric Power during the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several research reports. Mizuho cut American Electric Power from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Thursday, January 11th. LADENBURG THALM/SH SH cut American Electric Power from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $75.50 to $73.00 in a research report on Friday, March 8th. Cfra reiterated a “buy” rating and set a $92.00 price target (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. StockNews.com cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Finally, Guggenheim cut American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $86.08.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $81.24 on Thursday. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $94.73. The stock has a fifty day moving average of $82.62 and a 200-day moving average of $79.85. The company has a market capitalization of $42.78 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.86 and a beta of 0.51. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $5.12 billion. American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. American Electric Power’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 EPS. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 9th were issued a $0.88 dividend. The ex-dividend date was Thursday, February 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.33%. American Electric Power’s payout ratio is currently 82.82%.

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.