Parallel Advisors LLC Sells 254 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Parallel Advisors LLC cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,089 shares of the company’s stock after selling 254 shares during the period. Parallel Advisors LLC’s holdings in American Electric Power were worth $622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AEP. HHM Wealth Advisors LLC raised its position in 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 purchasing an additional 103 shares during the last quarter. Denali Advisors LLC bought a new position in shares of American Electric Power during the first quarter worth about $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power in the first quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new stake in American Electric Power in the fourth quarter valued at approximately $26,000. Finally, YHB Investment Advisors Inc. acquired a new stake in American Electric Power during the 1st quarter valued at approximately $29,000. 75.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AEP. Scotiabank boosted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley upped their target price on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets lifted their target price on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Guggenheim increased their price target on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $95.15.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $104.95 on Tuesday. The company’s fifty day simple moving average is $97.74 and its two-hundred day simple moving average is $90.54. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $105.18. The firm has a market cap of $55.32 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 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, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations 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 revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is presently 65.31%.

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.