New York State Common Retirement Fund Sells 66,000 Shares of American Electric Power Company Inc (AEP)

New York State Common Retirement Fund trimmed its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,286,843 shares of the utilities provider’s stock after selling 66,000 shares during the quarter. New York State Common Retirement Fund owned 0.26% of American Electric Power worth $88,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of American Electric Power by 1.7% during the 1st quarter. BlackRock Inc. now owns 34,274,267 shares of the utilities provider’s stock valued at $2,350,874,000 after buying an additional 560,773 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of American Electric Power by 1.1% during the 1st quarter. Wells Fargo & Company MN now owns 11,681,716 shares of the utilities provider’s stock valued at $801,249,000 after buying an additional 125,880 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of American Electric Power by 26.8% during the 1st quarter. JPMorgan Chase & Co. now owns 8,237,503 shares of the utilities provider’s stock valued at $565,010,000 after buying an additional 1,739,771 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of American Electric Power by 5.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,253,152 shares of the utilities provider’s stock valued at $360,313,000 after buying an additional 265,822 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of American Electric Power by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 5,227,300 shares of the utilities provider’s stock valued at $384,572,000 after buying an additional 245,600 shares in the last quarter. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Several equities analysts recently commented on AEP shares. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Morgan Stanley set a $71.00 price target on shares of American Electric Power and gave the company a “buy” rating in a report on Thursday, March 8th. Guggenheim upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating in a report on Tuesday, February 20th. SunTrust Banks set a $75.00 price target on shares of American Electric Power and gave the company a “buy” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of American Electric Power from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.14.

In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the stock in a transaction on Friday, May 4th. The stock was sold at an average price of $69.63, for a total transaction of $50,203.23. Following the sale, the executive vice president now owns 7,386 shares in the company, valued at $514,287.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Shares of American Electric Power opened at $67.22 on Monday, Marketbeat Ratings reports. American Electric Power Company Inc has a one year low of $63.32 and a one year high of $78.07. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.34 and a current ratio of 0.44. The stock has a market capitalization of $33.11 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.05 and a beta of 0.16.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 26th. The utilities provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). American Electric Power had a net margin of 11.41% and a return on equity of 9.93%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the company posted $0.96 EPS. American Electric Power’s revenue for the quarter was up 2.6% on a year-over-year basis. equities analysts forecast that American Electric Power Company Inc will post 3.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 10th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.69%. American Electric Power’s dividend payout ratio is currently 67.39%.

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

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

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply