American Electric Power Company, Inc. (NASDAQ:AEP) Holdings Cut by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 48.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,258 shares of the company’s stock after selling 89,192 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in American Electric Power were worth $7,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BLB&B Advisors LLC raised its holdings in shares of American Electric Power by 4.0% during the 4th quarter. BLB&B Advisors LLC now owns 3,405 shares of the company’s stock valued at $277,000 after purchasing an additional 131 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of American Electric Power by 4.4% during the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 3,150 shares of the company’s stock valued at $237,000 after purchasing an additional 132 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of American Electric Power by 1.0% during the 4th quarter. CENTRAL TRUST Co now owns 14,598 shares of the company’s stock valued at $1,186,000 after purchasing an additional 138 shares in the last quarter. Pinnacle West Asset Management Inc. grew its stake in American Electric Power by 3.1% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 4,715 shares of the company’s stock valued at $355,000 after buying an additional 140 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its stake in American Electric Power by 5.0% in the 3rd quarter. Nicolet Advisory Services LLC now owns 2,996 shares of the company’s stock valued at $220,000 after buying an additional 142 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research analyst reports. Cfra reiterated a “buy” rating and issued a $92.00 target price (up from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. BMO Capital Markets raised their target price on shares of American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Barclays raised their target price on shares of American Electric Power from $83.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price target on the stock. in a research report on Monday, January 22nd. Finally, LADENBURG THALM/SH SH lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $75.50 to $73.00 in a research report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.08.

American Electric Power Trading Up 0.8 %

Shares of AEP stock opened at $85.56 on Wednesday. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $94.73. The company has a market capitalization of $45.06 billion, a P/E ratio of 20.13, a P/E/G ratio of 3.00 and a beta of 0.51. The firm has a 50-day moving average price of $83.19 and a 200 day moving average price of $80.25. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.49.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a net margin of 11.64% and a return on equity of 11.04%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts forecast that American Electric Power Company, Inc. will post 5.54 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.11%. American Electric Power’s payout ratio is 82.82%.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.