Mainstay Capital Management LLC ADV Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Mainstay Capital Management LLC ADV increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,264 shares of the company’s stock after purchasing 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 quarter.

Other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after acquiring an additional 1,927,234 shares during the period. Nordea Investment Management AB boosted its position in 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 stake in shares of American Electric Power by 221.9% in 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 in the last quarter. Zimmer Partners LP lifted its stake in shares of American Electric Power by 578.2% during the 1st 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 in the last quarter. Finally, Jennison Associates LLC bought a new position in American Electric Power in the 1st quarter worth approximately $67,669,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 1.4 %

AEP opened at $99.39 on Friday. American Electric Power Company, Inc. has a 52 week low of $74.37 and a 52 week high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The business has a 50 day moving average of $100.65 and a 200-day moving average of $93.72. The stock has a market cap of $52.39 billion, a PE ratio of 18.44, a PEG ratio of 2.79 and a beta of 0.54.

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

American Electric Power Increases Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on AEP. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Guggenheim lifted their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Scotiabank upped their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.43.

About American Electric Power

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.