State of Tennessee Treasury Department boosted its stake in American Electric Power Company Inc (NYSE:AEP) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 206,600 shares of the utilities provider’s stock after acquiring an additional 22,895 shares during the period. State of Tennessee Treasury Department’s holdings in American Electric Power were worth $16,523,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Capital Advisory Group Advisory Services LLC bought a new stake in shares of American Electric Power in the first quarter valued at approximately $28,000. Engrave Wealth Partners LLC bought a new stake in shares of American Electric Power in the fourth quarter valued at approximately $31,000. Cowen Prime Services LLC bought a new stake in shares of American Electric Power in the first quarter valued at approximately $36,000. Balentine LLC purchased a new position in American Electric Power during the first quarter valued at approximately $36,000. Finally, Prestige Wealth Management Group LLC grew its stake in American Electric Power by 61.1% during the first quarter. Prestige Wealth Management Group LLC now owns 662 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 251 shares in the last quarter. 74.60% of the stock is currently owned by institutional investors and hedge funds.

In other American Electric Power news, CEO Nicholas K. Akins sold 16,519 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $81.90, for a total value of $1,352,906.10. Following the completion of the transaction, the chief executive officer now directly owns 134,743 shares in the company, valued at approximately $11,035,451.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Mccullough sold 2,244 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $81.19, for a total transaction of $182,190.36. Following the completion of the transaction, the executive vice president now owns 10,530 shares of the company’s stock, valued at $854,930.70. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Several equities analysts recently commented on the stock. Seaport Global Securities assumed coverage on shares of American Electric Power in a research note on Wednesday, May 20th. They set a “buy” rating and a $86.00 price objective for the company. Evercore ISI raised shares of American Electric Power from an “in-line” rating to an “outperform” rating and cut their price target for the stock from $103.00 to $95.00 in a research note on Monday, April 20th. TheStreet cut shares of American Electric Power from a “b” rating to a “c+” rating in a research note on Friday, March 20th. Morgan Stanley boosted their price target on shares of American Electric Power from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Finally, UBS Group boosted their price target on shares of American Electric Power from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. American Electric Power currently has an average rating of “Buy” and an average target price of $95.72.

NYSE:AEP traded down $1.18 during midday trading on Friday, reaching $78.12. 704,461 shares of the stock traded hands, compared to its average volume of 2,778,639. The company has a fifty day moving average of $81.30 and a 200 day moving average of $89.10. American Electric Power Company Inc has a 12 month low of $65.14 and a 12 month high of $104.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.35 and a current ratio of 0.45. The stock has a market capitalization of $39.30 billion, a P/E ratio of 21.36, a PEG ratio of 3.29 and a beta of 0.39.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.07). American Electric Power had a net margin of 12.08% and a return on equity of 10.15%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, analysts predict that American Electric Power Company Inc will post 4.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $2.80 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s dividend payout ratio is currently 66.04%.

American Electric Power 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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