Oregon Public Employees Retirement Fund Increases Holdings in American Electric Power Company Inc (AEP)

Oregon Public Employees Retirement Fund raised its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 108.9% in the 1st quarter, Holdings Channel reports. The firm owned 110,961 shares of the utilities provider’s stock after buying an additional 57,843 shares during the period. Oregon Public Employees Retirement Fund’s holdings in American Electric Power were worth $9,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Mid Atlantic Financial Management Inc. ADV lifted its holdings in American Electric Power by 7.8% during the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 8,679 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 628 shares during the last quarter. Mason Street Advisors LLC increased its position in American Electric Power by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 70,374 shares of the utilities provider’s stock worth $5,894,000 after buying an additional 853 shares during the period. Certified Advisory Corp increased its position in American Electric Power by 123.5% during the 1st quarter. Certified Advisory Corp now owns 1,542 shares of the utilities provider’s stock worth $129,000 after buying an additional 852 shares during the period. River Wealth Advisors LLC increased its position in American Electric Power by 2.0% during the 1st quarter. River Wealth Advisors LLC now owns 14,904 shares of the utilities provider’s stock worth $1,248,000 after buying an additional 288 shares during the period. Finally, Farmers National Bank bought a new position in American Electric Power during the 1st quarter worth $136,000. 73.99% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AEP opened at $85.85 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.37 and a debt-to-equity ratio of 1.19. American Electric Power Company Inc has a 52 week low of $62.71 and a 52 week high of $86.54. The firm has a market capitalization of $42.35 billion, a P/E ratio of 21.73, a P/E/G ratio of 3.68 and a beta of 0.17.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the business earned $0.96 earnings per share. American Electric Power’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that American Electric Power Company Inc will post 4.12 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is currently 67.85%.

In related news, CEO Nicholas K. Akins sold 11,152 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total value of $947,250.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 4,535 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.72, for a total value of $388,740.20. Following the completion of the transaction, the executive vice president now owns 9,674 shares in the company, valued at approximately $829,255.28. The disclosure for this sale can be found here. Insiders sold 21,582 shares of company stock worth $1,842,763 in the last 90 days. 0.16% of the stock is owned by company insiders.

AEP has been the topic of several recent research reports. JPMorgan Chase & Co. set a $78.00 price objective on American Electric Power and gave the stock a “hold” rating in a research report on Friday, January 25th. Morgan Stanley increased their price objective on American Electric Power from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Wells Fargo & Co increased their price objective on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Goldman Sachs Group cut American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Monday, April 8th. Finally, Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $81.63.

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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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