American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,558 shares of the company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in American Electric Power were worth $13,333,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AEP. Farther Finance Advisors LLC lifted its position in shares of American Electric Power by 3.2% during the third quarter. Farther Finance Advisors LLC now owns 7,242 shares of the company’s stock worth $743,000 after purchasing an additional 224 shares in the last quarter. Van ECK Associates Corp increased its stake in American Electric Power by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 146,090 shares of the company’s stock worth $14,730,000 after buying an additional 9,937 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in American Electric Power in the 3rd quarter worth $4,015,000. National Pension Service boosted its position in American Electric Power by 11.0% in the 3rd quarter. National Pension Service now owns 1,533,256 shares of the company’s stock valued at $157,312,000 after buying an additional 152,381 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in American Electric Power by 1.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 196,738 shares of the company’s stock valued at $20,185,000 after buying an additional 2,701 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the topic of several recent analyst reports. Barclays cut their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 target price (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and raised their price target for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Morgan Stanley cut their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Evercore ISI decreased their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $98.46.

American Electric Power Trading Down 2.3 %

NASDAQ AEP opened at $105.24 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $109.52. The company has a 50-day simple moving average of $98.53 and a 200-day simple moving average of $98.52. The firm has a market capitalization of $56.12 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the prior year, the company earned $1.23 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 66.43%.

American Electric Power 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.