Kentucky Retirement Systems Trims Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Kentucky Retirement Systems decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,722 shares of the company’s stock after selling 215 shares during the quarter. Kentucky Retirement Systems’ holdings in American Electric Power were worth $3,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC raised its position in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Denali Advisors LLC purchased a new position in American Electric Power during the 1st quarter worth $26,000. Rise Advisors LLC purchased a new position in American Electric Power during the 1st quarter worth $27,000. Frazier Financial Advisors LLC purchased a new position in American Electric Power during the 4th quarter worth $26,000. Finally, YHB Investment Advisors Inc. purchased a new position in American Electric Power during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. Scotiabank upped their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim upped their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley upped their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, Barclays increased their price target on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.15.

American Electric Power Stock Performance

Shares of AEP opened at $101.74 on Friday. The company has a market capitalization of $53.63 billion, a PE ratio of 18.88, a P/E/G ratio of 2.95 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $105.18. The company has a 50-day simple moving average of $98.37 and a 200-day simple moving average of $90.76. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.46%. American Electric Power’s payout ratio is 65.31%.

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.