Teacher Retirement System of Texas reduced its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 38.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 131,894 shares of the utilities provider’s stock after selling 82,170 shares during the period. Teacher Retirement System of Texas’ holdings in American Electric Power were worth $9,134,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. NuWave Investment Management LLC lifted its stake in American Electric Power by 977.2% in the first quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 1,329 shares during the last quarter. First Quadrant L P CA bought a new stake in American Electric Power in the second quarter worth $118,000. Optimum Investment Advisors bought a new stake in American Electric Power in the first quarter worth $141,000. Jacobi Capital Management LLC lifted its stake in American Electric Power by 367.9% in the first quarter. Jacobi Capital Management LLC now owns 2,438 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Bristol John W & Co. Inc. NY bought a new stake in American Electric Power in the first quarter worth $168,000. 71.59% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. ValuEngine raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. KeyCorp boosted their price target on shares of American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, July 19th. Scotiabank assumed coverage on shares of American Electric Power in a research note on Tuesday, July 24th. They issued a “hold” rating and a $72.00 price target for the company. Finally, Mizuho reissued a “buy” rating and issued a $74.50 price target on shares of American Electric Power in a research note on Friday, July 27th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $75.44.
Shares of NYSE AEP opened at $72.50 on Friday. American Electric Power Company Inc has a 1 year low of $62.71 and a 1 year high of $78.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.40 and a current ratio of 0.50. The stock has a market cap of $34.92 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.25 and a beta of 0.16.
American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Wednesday, July 25th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. American Electric Power had a net margin of 12.09% and a return on equity of 10.50%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. American Electric Power’s quarterly revenue was up 11.1% on a year-over-year basis. equities analysts predict that American Electric Power Company Inc will post 3.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Thursday, August 9th. American Electric Power’s dividend payout ratio (DPR) is presently 67.39%.
American Electric Power 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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