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

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,256 shares of the company’s stock after purchasing an additional 1,501 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in American Electric Power were worth $1,592,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power during the 3rd quarter valued at about $33,000. Newbridge Financial Services Group Inc. bought a new position in American Electric Power during the 4th quarter valued at about $35,000. Kestra Investment Management LLC bought a new position in American Electric Power during the 4th quarter valued at about $35,000. Finally, Reston Wealth Management LLC bought a new position in American Electric Power during the 3rd quarter valued at about $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

NASDAQ AEP opened at $102.20 on Wednesday. American Electric Power Company, Inc. has a 12 month low of $79.16 and a 12 month high of $105.18. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.84 and a beta of 0.58. The company’s 50 day moving average is $95.84 and its two-hundred day moving average is $97.96. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 13.48% and a return on equity of 11.41%. During the same quarter in the previous year, the business posted $1.23 EPS. As a group, research analysts anticipate that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays lowered their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and upped their target price for the company from $98.00 to $104.00 in a research note on Monday, January 13th. BMO Capital Markets lowered their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.00.

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.