Louisiana State Employees Retirement System Cuts Position in American Electric Power Company Inc (NYSE:AEP)

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Louisiana State Employees Retirement System decreased its position in American Electric Power Company Inc (NYSE:AEP) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,700 shares of the utilities provider’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in American Electric Power were worth $2,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AEP. Cornerstone Advisors Inc. boosted its holdings in shares of American Electric Power by 47.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 546 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 175 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd boosted its holdings in shares of American Electric Power by 186.2% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock valued at $695,000 after purchasing an additional 5,400 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of American Electric Power by 14.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 26,278 shares of the utilities provider’s stock valued at $2,204,000 after purchasing an additional 3,377 shares during the last quarter. State Treasurer State of Michigan boosted its holdings in shares of American Electric Power by 0.7% in the 1st quarter. State Treasurer State of Michigan now owns 142,181 shares of the utilities provider’s stock valued at $11,908,000 after purchasing an additional 1,000 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of American Electric Power in the 1st quarter valued at $319,000. 73.53% of the stock is currently owned by institutional investors.

In related news, EVP Paul Chodak III sold 1,303 shares of American Electric Power stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total transaction of $112,735.56. Following the sale, the executive vice president now owns 8,152 shares of the company’s stock, valued at approximately $705,311.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas K. Akins sold 11,152 shares of American Electric Power stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. Insiders have sold a total of 24,637 shares of company stock worth $2,112,145 in the last ninety days. 0.16% of the stock is currently owned by insiders.

A number of brokerages have weighed in on AEP. UBS Group reiterated a “buy” rating on shares of Linde in a report on Friday, July 12th. Goldman Sachs Group reiterated a “neutral” rating and issued a $393.00 price target on shares of Boeing in a report on Monday, April 8th. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the company a “hold” rating in a research note on Friday, June 14th. Finally, KeyCorp began coverage on shares of Southern in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $87.45.

Shares of AEP stock opened at $89.08 on Friday. The company has a fifty day simple moving average of $89.95. American Electric Power Company Inc has a 52 week low of $68.92 and a 52 week high of $91.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. The stock has a market cap of $44.20 billion, a P/E ratio of 22.55, a PEG ratio of 3.82 and a beta of 0.16.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. As a group, equities analysts forecast that American Electric Power Company Inc will post 4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 67.85%.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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