Parisi Gray Wealth Management Has $31,000 Stake in American Electric Power Company Inc (NYSE:AEP)

Parisi Gray Wealth Management lessened its position in American Electric Power Company Inc (NYSE:AEP) by 34.8% in the first quarter, Holdings Channel reports. The institutional investor owned 374 shares of the utilities provider’s stock after selling 200 shares during the period. Parisi Gray Wealth Management’s holdings in American Electric Power were worth $31,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AEP. QUANTRES ASSET MANAGEMENT Ltd grew its holdings in American Electric Power by 186.2% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock valued at $695,000 after purchasing an additional 5,400 shares during the period. Cetera Advisor Networks LLC grew its holdings in American Electric Power by 14.7% in the first quarter. Cetera Advisor Networks LLC now owns 26,278 shares of the utilities provider’s stock valued at $2,204,000 after purchasing an additional 3,377 shares during the period. State Treasurer State of Michigan grew its holdings in American Electric Power by 0.7% in the first quarter. State Treasurer State of Michigan now owns 142,181 shares of the utilities provider’s stock valued at $11,908,000 after purchasing an additional 1,000 shares during the period. Commonwealth Bank of Australia grew its holdings in American Electric Power by 124.6% in the fourth quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock valued at $275,134,000 after purchasing an additional 2,042,518 shares during the period. Finally, Orrstown Financial Services Inc. grew its holdings in American Electric Power by 1,778.1% in the first quarter. Orrstown Financial Services Inc. now owns 6,949 shares of the utilities provider’s stock valued at $582,000 after purchasing an additional 6,579 shares during the period. 73.60% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of American Electric Power from $88.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday. KeyCorp assumed coverage on shares of American Electric Power in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. UBS Group boosted their target price on shares of American Electric Power from $89.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wells Fargo & Co boosted their target price on shares of American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Goldman Sachs Group downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a report on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $82.07.

Shares of AEP stock traded up $0.86 on Friday, hitting $90.45. The stock had a trading volume of 370,038 shares, compared to its average volume of 1,947,700. The company has a market capitalization of $44.09 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 3.82 and a beta of 0.16. The company has a current ratio of 0.49, a quick ratio of 0.37 and a debt-to-equity ratio of 1.19. American Electric Power Company Inc has a 52-week low of $63.53 and a 52-week high of $91.07.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.23 billion. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Equities research analysts predict that American Electric Power Company Inc will post 4.15 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $0.67 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.68 annualized dividend and a dividend yield of 2.96%. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

In other news, CEO Nicholas K. Akins sold 11,152 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Chodak III sold 1,303 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total transaction of $112,735.56. Following the completion of the transaction, the executive vice president now owns 8,152 shares of the company’s stock, valued at $705,311.04. The disclosure for this sale can be found here. Insiders sold 24,637 shares of company stock valued at $2,112,145 over the last 90 days. Insiders own 0.16% of the company’s stock.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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