Louisiana State Employees Retirement System Has $6.23 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Louisiana State Employees Retirement System lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,500 shares of the company’s stock after selling 3,100 shares during the period. Louisiana State Employees Retirement System’s holdings in American Electric Power were worth $6,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of American Electric Power by 4,215.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 19,634 shares of the company’s stock worth $2,014,000 after purchasing an additional 19,179 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of American Electric Power in the third quarter valued at approximately $203,000. Magnus Financial Group LLC acquired a new stake in American Electric Power during the third quarter worth approximately $225,000. First United Bank & Trust increased its stake in American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after acquiring an additional 112 shares during the period. Finally, Cascade Investment Group Inc. acquired a new position in American Electric Power in the 3rd quarter valued at $234,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of AEP stock opened at $101.88 on Wednesday. The firm has a market capitalization of $54.21 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.84 and a beta of 0.58. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The business’s 50-day moving average price is $95.16 and its 200-day moving average price is $97.83. American Electric Power Company, Inc. has a 12 month low of $76.31 and a 12 month high of $105.18.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a yield of 3.65%. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AEP. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Morgan Stanley cut their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Barclays reduced their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Finally, BMO Capital Markets lowered their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $98.00.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.