Public Employees Retirement Association of Colorado Has $6.31 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Public Employees Retirement Association of Colorado cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,965 shares of the company’s stock after selling 1,415 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in American Electric Power were worth $6,314,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after purchasing an additional 405,114 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of American Electric Power by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after acquiring an additional 35,769 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in American Electric Power during the 4th quarter worth approximately $175,667,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AEP shares. Guggenheim raised their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. BMO Capital Markets boosted their price objective on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. 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 report on Friday, August 23rd. Finally, Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $96.00.

American Electric Power Stock Up 0.4 %

American Electric Power stock opened at $102.15 on Friday. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $105.18. The stock has a fifty day simple moving average of $98.82 and a two-hundred day simple moving average of $90.96. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market cap of $53.85 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.95 and a beta of 0.54.

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

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Friday, August 9th. 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.