Park Place Capital Corp Cuts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Park Place Capital Corp lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,211 shares of the company’s stock after selling 722 shares during the period. Park Place Capital Corp’s holdings in American Electric Power were worth $296,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in American Electric Power in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power in the 3rd quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new stake in shares of American Electric Power in the 3rd quarter valued at $48,000. Decker Retirement Planning Inc. purchased a new stake in shares of American Electric Power during the 4th quarter worth $49,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of American Electric Power during the third quarter worth $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AEP. Barclays decreased their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Morgan Stanley lowered their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Wells Fargo & Company lowered their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, UBS Group increased their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Down 0.3 %

NASDAQ AEP opened at $97.49 on Thursday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The firm has a market cap of $51.88 billion, a PE ratio of 19.54, a P/E/G ratio of 2.76 and a beta of 0.56. The firm’s fifty day moving average is $94.68 and its two-hundred day moving average is $97.11. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.82%. American Electric Power’s payout ratio is 74.55%.

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.