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

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

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $33,000. Newbridge Financial Services Group Inc. purchased a new position in American Electric Power during the 4th quarter valued at about $35,000. Kestra Investment Management LLC acquired a new position in American Electric Power during the fourth quarter worth about $35,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of American Electric Power in the fourth quarter valued at about $49,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Down 2.3 %

Shares of NASDAQ AEP opened at $105.24 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $56.12 billion, a PE ratio of 18.79, a P/E/G ratio of 2.97 and a beta of 0.58. The firm has a fifty day moving average of $98.53 and a 200-day moving average of $98.52. American Electric Power Company, Inc. has a 52-week low of $79.16 and a 52-week high of $109.52.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (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 quarter in the prior year, the firm earned $1.23 earnings per share. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AEP. Morgan Stanley dropped their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets dropped their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Evercore ISI reduced their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.46.

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.