TIAA Trust National Association Sells 7,006 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

TIAA Trust National Association lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 17.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 32,571 shares of the company’s stock after selling 7,006 shares during the period. TIAA Trust National Association’s holdings in American Electric Power were worth $2,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Frazier Financial Advisors LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $26,000. Denali Advisors LLC purchased a new stake in American Electric Power during the first quarter valued at about $26,000. Rise Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter worth about $27,000. YHB Investment Advisors Inc. bought a new position in shares of American Electric Power during the 1st quarter valued at $29,000. Finally, LRI Investments LLC increased its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP opened at $102.43 on Thursday. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $104.41. The stock has a 50-day moving average price of $95.22 and a 200-day moving average price of $89.31. The firm has a market cap of $54.51 billion, a PE ratio of 19.00, a P/E/G ratio of 2.87 and a beta of 0.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

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

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Barclays increased their price target on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Bank of America raised their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets lifted their price target on American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $94.77.

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.