Park Place Capital Corp Sells 1,127 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Park Place Capital Corp lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 22.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,933 shares of the company’s stock after selling 1,127 shares during the period. Park Place Capital Corp’s holdings in American Electric Power were worth $404,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. Denali Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $27,000. YHB Investment Advisors Inc. bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $29,000. Finally, LRI Investments LLC bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $37,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.1 %

Shares of NASDAQ AEP opened at $98.20 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a 52-week low of $72.01 and a 52-week high of $105.18. The firm has a 50 day moving average price of $100.39 and a two-hundred day moving average price of $92.47. The stock has a market cap of $51.76 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company posted $1.13 EPS. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AEP. Morgan Stanley upped their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. BMO Capital Markets upped their price target on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group began coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Guggenheim increased their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.79.

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.