Teacher Retirement System of Texas Sells 38,356 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Teacher Retirement System of Texas lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 190,553 shares of the company's stock after selling 38,356 shares during the period. Teacher Retirement System of Texas' holdings in American Electric Power were worth $20,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $25,000. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $28,000. Finally, Fairway Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter worth approximately $32,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

NASDAQ AEP traded up $0.15 on Friday, reaching $103.41. The stock had a trading volume of 1,620,520 shares, compared to its average volume of 3,223,733. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The firm has a fifty day moving average of $103.29 and a two-hundred day moving average of $101.89. American Electric Power Company, Inc. has a 1-year low of $86.83 and a 1-year high of $110.48. The company has a market cap of $55.24 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. American Electric Power's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on AEP. Morgan Stanley dropped their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. UBS Group increased their price target on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research note on Friday, June 6th. BMO Capital Markets increased 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, April 21st. Raymond James Financial began coverage on American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 price target on the stock. Finally, Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $108.31.

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.