Kentucky Retirement Systems Insurance Trust Fund Trims Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,755 shares of the company’s stock after selling 1,247 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in American Electric Power were worth $1,616,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. E Fund Management Co. Ltd. raised its stake in shares of American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after buying an additional 105 shares during the period. XML Financial LLC lifted its position in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after buying an additional 106 shares in the last quarter. Garrison Asset Management LLC grew its stake in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after acquiring an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY increased its holdings in American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after acquiring an additional 110 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the topic of several analyst reports. UBS Group upped their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Barclays boosted their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.27.

American Electric Power Trading Up 2.7 %

Shares of AEP stock opened at $96.31 on Friday. The company has a market cap 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 company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $99.74 and its two-hundred day simple moving average is $95.21. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

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

American Electric Power Company 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.