Parsons Capital Management Inc. RI Has $370,000 Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Parsons Capital Management Inc. RI cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,296 shares of the company’s stock after selling 250 shares during the period. Parsons Capital Management Inc. RI’s holdings in American Electric Power were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AEP. Wellington Management Group LLP increased its holdings in American Electric Power by 14.4% during the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares during the last quarter. Nomura Holdings Inc. acquired a new position in American Electric Power during the fourth quarter worth $175,667,000. Invesco Ltd. increased its holdings in shares of American Electric Power by 13.7% in the third quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after purchasing an additional 1,181,706 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of American Electric Power by 67.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after purchasing an additional 1,043,885 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its holdings in shares of American Electric Power by 70.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,953,072 shares of the company’s stock valued at $145,835,000 after purchasing an additional 809,067 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

AEP traded down $1.60 on Friday, hitting $85.26. 2,975,865 shares of the stock were exchanged, compared to its average volume of 2,656,889. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $93.56. The business has a 50-day moving average of $83.53 and a two-hundred day moving average of $80.50. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.53 and a quick ratio of 0.36. The firm has a market capitalization of $44.90 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.01 and a beta of 0.51.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the company earned $1.05 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.54 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.13%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is 82.82%.

Analysts Set New Price Targets

Several equities analysts have commented on AEP shares. BMO Capital Markets upped their price objective on shares of American Electric Power from $87.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Cfra reiterated a “buy” rating and issued a $92.00 price objective (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Scotiabank decreased their price objective on shares of American Electric Power from $92.00 to $86.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. Guggenheim downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 price objective on the stock. in a report on Monday, January 22nd. Finally, StockNews.com downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.08.

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.