Mackenzie Financial Corp Sells 42,588 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Mackenzie Financial Corp reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.9% during the 4th quarter, HoldingsChannel reports. The fund owned 385,817 shares of the company’s stock after selling 42,588 shares during the quarter. Mackenzie Financial Corp’s holdings in American Electric Power were worth $31,336,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AEP. Fairfield Bush & CO. bought a new stake in American Electric Power during the 1st quarter worth about $40,000. Westwood Holdings Group Inc. bought a new stake in American Electric Power during the 1st quarter worth about $211,000. Cibc World Market Inc. raised its holdings in shares of American Electric Power by 13.1% in the 1st quarter. Cibc World Market Inc. now owns 30,809 shares of the company’s stock valued at $3,074,000 after purchasing an additional 3,558 shares during the period. Sei Investments Co. raised its holdings in shares of American Electric Power by 17.7% in the 1st quarter. Sei Investments Co. now owns 205,440 shares of the company’s stock valued at $20,569,000 after purchasing an additional 30,836 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of American Electric Power by 1.6% in the 1st quarter. Cetera Investment Advisers now owns 36,515 shares of the company’s stock valued at $3,643,000 after purchasing an additional 577 shares during the period. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $81.24 on Thursday. The company’s 50 day moving average price is $82.62 and its two-hundred day moving average price is $79.85. The firm has a market cap of $42.78 billion, a PE ratio of 19.12, a PEG ratio of 2.86 and a beta of 0.51. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $94.73. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.03). The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate 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 was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 9th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is presently 82.82%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research analyst reports. Cfra reaffirmed a “buy” rating and issued a $92.00 target price (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. StockNews.com lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Barclays upped their price target on shares of American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday. Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research note on Monday, January 22nd. Finally, UBS Group lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their price target for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $86.08.

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.