New York State Common Retirement Fund Lowers Stock Position in American Electric Power Company, Inc. $AEP

New York State Common Retirement Fund cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 514,681 shares of the company’s stock after selling 38,500 shares during the quarter. New York State Common Retirement Fund’s holdings in American Electric Power were worth $57,902,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Brighton Jones LLC increased its stake in shares of American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock worth $978,000 after purchasing an additional 1,095 shares in the last quarter. Acadian Asset Management LLC bought a new position in American Electric Power in the 1st quarter worth $320,000. Sivia Capital Partners LLC increased its stake in American Electric Power by 149.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,891 shares of the company’s stock worth $507,000 after buying an additional 2,931 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in American Electric Power by 4.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 235,936 shares of the company’s stock worth $24,481,000 after buying an additional 10,760 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in American Electric Power by 0.3% during the second quarter. Truist Financial Corp now owns 306,111 shares of the company’s stock valued at $31,762,000 after acquiring an additional 861 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

AEP stock opened at $119.21 on Friday. American Electric Power Company, Inc. has a 52 week low of $97.32 and a 52 week high of $124.80. The firm has a market capitalization of $63.67 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63. The company has a fifty day simple moving average of $117.27 and a two-hundred day simple moving average of $114.85. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.85 earnings per share. Analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.95 per share. The ex-dividend date is Tuesday, February 10th. This represents a $3.80 dividend on an annualized basis and a yield of 3.2%. American Electric Power’s dividend payout ratio is 55.39%.

Insider Activity

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the completion of the transaction, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. The trade was a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on American Electric Power in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. UBS Group lowered their price target on American Electric Power from $114.00 to $107.00 and set a “sell” rating on the stock in a report on Wednesday, December 17th. Mizuho increased their price objective on shares of American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. LADENBURG THALM/SH SH reduced their price objective on shares of American Electric Power from $124.50 to $117.50 and set a “neutral” rating on the stock in a research report on Friday, January 23rd. Finally, Williams Trading set a $137.00 target price on shares of American Electric Power in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $127.39.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.