Bank of Montreal Can Sells 22,729 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Bank of Montreal Can lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,795,566 shares of the company’s stock after selling 22,729 shares during the period. Bank of Montreal Can owned approximately 0.34% of American Electric Power worth $157,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hodges Capital Management Inc. bought a new position in American Electric Power during the 1st quarter worth about $1,615,000. Quantbot Technologies LP bought a new position in American Electric Power in the first quarter valued at $1,731,000. Nordea Investment Management AB increased its stake in American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after buying an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in American Electric Power by 646.9% during the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after buying an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of American Electric Power by 21.7% during the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after buying an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.4 %

Shares of NASDAQ AEP opened at $102.53 on Tuesday. The stock has a market capitalization of $54.05 billion, a P/E ratio of 19.02, a PEG ratio of 2.95 and a beta of 0.54. The stock’s fifty day moving average is $98.82 and its 200 day moving average is $91.06. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is presently 65.31%.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays increased their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. BMO Capital Markets lifted their target price on shares of American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Morgan Stanley increased their price target on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Scotiabank boosted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $96.00.

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.