American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lifted its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 55.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,864 shares of the company’s stock after purchasing an additional 2,800 shares during the period. Parsons Capital Management Inc. RI’s holdings in American Electric Power were worth $725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. XML Financial LLC boosted its holdings in shares of American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after buying an additional 106 shares during the period. PSI Advisors LLC boosted its stake in American Electric Power by 10.6% in the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock worth $103,000 after purchasing an additional 107 shares during the period. Garrison Asset Management LLC grew its position in American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares in the last quarter. Roanoke Asset Management Corp NY raised its stake in American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the period. Finally, First United Bank & Trust raised its stake in American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Evercore ISI dropped their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 target price (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.00.

American Electric Power Stock Up 4.5 %

Shares of AEP stock opened at $102.63 on Tuesday. The company has a market capitalization of $54.61 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.77 and a beta of 0.56. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock’s 50 day simple moving average is $94.87 and its 200 day simple moving average is $97.32. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

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.