New York State Common Retirement Fund Sells 38,500 Shares of American Electric Power Company, Inc. $AEP

New York State Common Retirement Fund trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 514,681 shares of the company’s stock after selling 38,500 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of American Electric Power worth $57,902,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AEP. Soroban Capital Partners LP increased its position in shares of American Electric Power by 176.3% during the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock valued at $415,526,000 after acquiring an additional 2,555,415 shares in the last quarter. Amundi lifted its position in American Electric Power by 26.1% in the 2nd quarter. Amundi now owns 3,694,659 shares of the company’s stock valued at $381,510,000 after acquiring an additional 765,258 shares in the last quarter. State Street Corp boosted its stake in American Electric Power by 2.3% during the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after purchasing an additional 653,712 shares during the last quarter. Invesco Ltd. increased its holdings in shares of American Electric Power by 5.9% in the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after purchasing an additional 432,441 shares in the last quarter. Finally, National Pension Service raised its stake in shares of American Electric Power by 22.8% in the second quarter. National Pension Service now owns 1,894,580 shares of the company’s stock worth $196,582,000 after purchasing an additional 352,198 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.1%

American Electric Power 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 company has a market cap of $63.67 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.84 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.41. The business has a 50-day simple moving average of $117.27 and a two-hundred day simple moving average of $114.85.

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

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 55.39%.

Analyst Ratings Changes

Several equities research analysts recently commented on AEP shares. Siebert Williams Shank initiated coverage on American Electric Power in a research report on Thursday, December 18th. They set a “buy” rating and a $137.00 price objective on the stock. Citigroup raised their price target on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Mizuho lifted their price target on shares of American Electric Power from $113.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Raymond James Financial restated an “outperform” rating on shares of American Electric Power in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.39.

Insider Activity

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 25,898 shares in the company, valued at $2,980,082.86. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.

About American Electric Power

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.