Retirement Systems of Alabama Cuts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Retirement Systems of Alabama lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 76.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,897 shares of the company’s stock after selling 383,590 shares during the period. Retirement Systems of Alabama’s holdings in American Electric Power were worth $9,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AEP. Wetzel Investment Advisors Inc. purchased a new position in American Electric Power in the fourth quarter worth $32,000. GoalVest Advisory LLC boosted its position in American Electric Power by 304.8% in the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after purchasing an additional 320 shares during the last quarter. JNBA Financial Advisors raised its stake in shares of American Electric Power by 91.6% in the third quarter. JNBA Financial Advisors now owns 479 shares of the company’s stock valued at $36,000 after buying an additional 229 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of American Electric Power in the third quarter valued at $36,000. Finally, Byrne Asset Management LLC bought a new stake in shares of American Electric Power in the third quarter valued at $38,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock opened at $88.25 on Friday. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $92.88. The business has a 50-day simple moving average of $83.85 and a 200 day simple moving average of $80.72. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $46.47 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 3.02 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, research analysts forecast that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays boosted their target price on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group lowered American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the company from $86.00 to $83.00 in a research note on Monday, March 11th. Scotiabank boosted their target price on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Wednesday. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, LADENBURG THALM/SH SH lowered American Electric Power from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $75.50 to $73.00 in a research note on Friday, March 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus price target of $87.36.

About American Electric Power

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.