Park Place Capital Corp Sells 902 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Park Place Capital Corp reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 12.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,349 shares of the company’s stock after selling 902 shares during the period. Park Place Capital Corp’s holdings in American Electric Power were worth $547,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in American Electric Power during the 1st quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in American Electric Power during the 4th quarter worth approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $32,000. GoalVest Advisory LLC grew its holdings in shares of American Electric Power by 304.8% in the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock valued at $35,000 after acquiring an additional 320 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power in the first quarter valued at approximately $41,000. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and upped their target price for the company from $73.00 to $86.00 in a report on Thursday, June 6th. Barclays upped their target price on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their target price on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. BMO Capital Markets upped their target price on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Finally, Scotiabank upped their price objective on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $88.62.

American Electric Power Trading Down 0.5 %

NASDAQ:AEP opened at $87.28 on Tuesday. The company has a market cap of $46.01 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.60 and a beta of 0.53. The stock’s fifty day moving average price is $88.84 and its two-hundred day moving average price is $84.19. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $93.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.02. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.03%. The ex-dividend date was Thursday, May 9th. American Electric Power’s dividend payout ratio is 65.31%.

Insider Activity at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at $563,476.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the sale, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Electric Power Company 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.