TIAA Trust National Association Has $2.86 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

TIAA Trust National Association reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 17.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,571 shares of the company’s stock after selling 7,006 shares during the quarter. TIAA Trust National Association’s holdings in American Electric Power were worth $2,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AEP. Nomura Holdings Inc. bought a new position in American Electric Power during the 4th quarter valued at $175,667,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Nordea Investment Management AB grew its position in American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. National Bank of Canada FI grew its position in American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after purchasing an additional 1,182,451 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after buying an additional 1,043,885 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AEP. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley upped their price objective on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Barclays raised their target price on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.77.

American Electric Power Stock Performance

Shares of AEP stock opened at $102.43 on Thursday. The firm’s 50 day moving average is $95.22 and its 200 day moving average is $89.31. The stock has a market capitalization of $54.51 billion, a P/E ratio of 19.00, a PEG ratio of 2.87 and a beta of 0.53. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $104.41. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, August 9th. American Electric Power’s payout ratio is presently 65.31%.

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.