State of Tennessee Department of Treasury Sells 9,013 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

State of Tennessee Department of Treasury decreased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,919 shares of the company's stock after selling 9,013 shares during the period. State of Tennessee Department of Treasury's holdings in American Electric Power were worth $20,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of American Electric Power by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock worth $4,767,425,000 after purchasing an additional 763,813 shares during the last quarter. GQG Partners LLC raised its holdings in American Electric Power by 3.7% during the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock worth $1,389,032,000 after buying an additional 543,054 shares during the period. Geode Capital Management LLC raised its stake in shares of American Electric Power by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock valued at $1,178,174,000 after purchasing an additional 283,311 shares during the period. Invesco Ltd. raised its position in American Electric Power by 9.1% in the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock valued at $793,510,000 after buying an additional 716,229 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of American Electric Power by 2.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,644,349 shares of the company's stock worth $427,009,000 after purchasing an additional 100,578 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Guggenheim upgraded American Electric Power from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Bank of America raised their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. BMO Capital Markets upped their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Morgan Stanley set a $114.00 price target on American Electric Power and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Barclays raised their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $101.69.

American Electric Power Trading Up 0.3 %

Shares of NASDAQ AEP traded up $0.33 during midday trading on Monday, reaching $107.07. The stock had a trading volume of 522,326 shares, compared to its average volume of 3,154,494. The company's 50 day moving average price is $105.38 and its 200 day moving average price is $99.76. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a twelve month low of $85.70 and a twelve month high of $110.48. The firm has a market cap of $57.14 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period last year, the business earned $1.23 EPS. As a group, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

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.