Mainstay Capital Management LLC ADV Buys 124 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Mainstay Capital Management LLC ADV raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,264 shares of the company’s stock after acquiring an additional 124 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in American Electric Power were worth $1,566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AEP. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after acquiring an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares during the period. National Bank of Canada FI increased its holdings in shares of American Electric Power by 221.9% during the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after purchasing an additional 1,182,451 shares during the period. Zimmer Partners LP boosted its stake in shares of American Electric Power by 578.2% in the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after buying an additional 831,235 shares during the period. Finally, Jennison Associates LLC acquired a new stake in American Electric Power during the first quarter worth approximately $67,669,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

AEP stock opened at $99.39 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company’s 50-day moving average is $100.65 and its 200-day moving average is $93.72. The stock has a market capitalization of $52.39 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 1 year low of $74.37 and a 1 year high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. Equities research analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.74%. American Electric Power’s payout ratio is presently 65.31%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEP. Wells Fargo & Company upped their target price on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. BMO Capital Markets boosted their target price on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Bank of America raised their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Scotiabank lifted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.43.

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.