State of Tennessee Department of Treasury Sells 9,013 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

State of Tennessee Department of Treasury reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,919 shares of the company’s stock after selling 9,013 shares during the quarter. State of Tennessee Department of Treasury’s holdings in American Electric Power were worth $20,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AEP. Raymond James Financial Inc. bought a new position in shares of American Electric Power in the 4th quarter valued at about $220,983,000. Cohen & Steers Inc. bought a new position in American Electric Power in the fourth quarter valued at approximately $121,605,000. Vanguard Group Inc. boosted its stake in American Electric Power by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock valued at $4,767,425,000 after acquiring an additional 763,813 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in American Electric Power by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company’s stock worth $315,498,000 after acquiring an additional 738,756 shares during the period. Finally, Invesco Ltd. raised its position in shares of American Electric Power by 9.1% during the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company’s stock valued at $793,510,000 after acquiring an additional 716,229 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $108.15 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The firm has a market cap of $57.72 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The stock’s 50-day moving average is $105.09 and its 200-day moving average is $99.56. American Electric Power Company, Inc. has a one year low of $84.28 and a one year high of $110.48.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the business posted $1.23 EPS. Equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AEP. Morgan Stanley lifted their price objective on American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. BMO Capital Markets upped their price target on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays upped their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Bank of America lifted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average price target of $101.62.

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.