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

Kentucky Retirement Systems lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 37,070 shares of the company’s stock after selling 2,652 shares during the period. Kentucky Retirement Systems’ holdings in American Electric Power were worth $3,803,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its position in American Electric Power by 10,177.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares during the period. National Bank of Canada FI boosted its stake in shares of American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after acquiring an additional 1,182,451 shares in the last quarter. Zimmer Partners LP grew its position in shares of American Electric Power by 578.2% during the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after acquiring an additional 831,235 shares during the period. Lazard Asset Management LLC increased its stake in shares of 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 valued at $739,303,000 after purchasing an additional 776,965 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in American Electric Power by 51.1% in the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after purchasing an additional 623,789 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP stock opened at $96.31 on Friday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a market capitalization of $51.25 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.69 and a beta of 0.55. The business has a 50 day simple moving average of $99.74 and a 200-day simple moving average of $95.21.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Analysts Set New Price Targets

Several analysts have commented on AEP shares. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI reduced their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Scotiabank lifted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Barclays upped their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.27.

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.