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

Park Place Capital Corp reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 18.4% in the 4th quarter, HoldingsChannel reports. 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 filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its holdings in shares of American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after buying an additional 1,963,154 shares during the period. Janus Henderson Group PLC raised its position in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after acquiring an additional 1,962,125 shares in the last quarter. State Street Corp lifted its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock valued at $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. FMR LLC boosted its position in shares of American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in shares of American Electric Power during the 3rd quarter worth $80,207,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AEP shares. UBS Group raised their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the company from $98.00 to $104.00 in a research report on Monday, January 13th. Evercore ISI decreased 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 note on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, BMO Capital Markets decreased their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Down 0.3 %

Shares of NASDAQ:AEP opened at $97.49 on Thursday. The company has a market capitalization of $51.88 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.76 and a beta of 0.56. The stock’s fifty day simple moving average is $94.68 and its 200-day simple moving average is $97.11. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Announces Dividend

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

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.