Mackenzie Financial Corp Has $9.76 Million Stock Holdings in American Electric Power Company Inc (NYSE:AEP)

Mackenzie Financial Corp grew its position in American Electric Power Company Inc (NYSE:AEP) by 7.4% during the 2nd quarter, Holdings Channel reports. The firm owned 110,907 shares of the utilities provider’s stock after purchasing an additional 7,614 shares during the quarter. Mackenzie Financial Corp’s holdings in American Electric Power were worth $9,761,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Nomura Holdings Inc. raised its holdings in shares of American Electric Power by 52.1% in the second quarter. Nomura Holdings Inc. now owns 209,381 shares of the utilities provider’s stock valued at $18,453,000 after buying an additional 71,740 shares during the last quarter. RFG Advisory LLC raised its holdings in American Electric Power by 11.3% during the 2nd quarter. RFG Advisory LLC now owns 2,956 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 300 shares during the last quarter. Headinvest LLC bought a new stake in American Electric Power during the 2nd quarter worth about $201,000. Colonial Trust Advisors raised its holdings in American Electric Power by 2.8% during the 2nd quarter. Colonial Trust Advisors now owns 6,635 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 180 shares during the last quarter. Finally, Chartwell Investment Partners LLC raised its holdings in American Electric Power by 13.6% during the 2nd quarter. Chartwell Investment Partners LLC now owns 104,575 shares of the utilities provider’s stock worth $9,204,000 after purchasing an additional 12,508 shares during the last quarter. 73.83% of the stock is owned by institutional investors and hedge funds.

Shares of AEP stock traded up $0.51 on Friday, reaching $93.01. The company had a trading volume of 142,073 shares, compared to its average volume of 2,373,655. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29. The stock has a market cap of $46.03 billion, a PE ratio of 23.55, a PEG ratio of 3.98 and a beta of 0.09. The company has a 50-day moving average of $91.76 and a 200-day moving average of $88.25. American Electric Power Company Inc has a 12 month low of $69.31 and a 12 month high of $94.89.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $4.13 billion. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. American Electric Power’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Sell-side analysts anticipate that American Electric Power Company Inc will post 4.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.67 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.88%. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

In other news, VP Brian X. Tierney sold 4,458 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the sale, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles E. Zebula sold 1,216 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total value of $110,631.68. Following the completion of the transaction, the insider now owns 7,420 shares of the company’s stock, valued at $675,071.60. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Several brokerages have weighed in on AEP. SunTrust Banks boosted their price objective on American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Morgan Stanley boosted their price objective on American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Mizuho boosted their price objective on American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Thursday, July 11th. Finally, UBS Group boosted their price objective on American Electric Power from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $92.45.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Further Reading: SEC Filing

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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