Joel Isaacson & Co. LLC Grows Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Joel Isaacson & Co. LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,855 shares of the company’s stock after buying an additional 261 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in American Electric Power were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted 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 purchasing an additional 1,927,234 shares during the period. Nordea Investment Management AB grew its stake 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 valued at $171,127,000 after buying an additional 1,581,734 shares during the last quarter. National Bank of Canada FI raised its holdings 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 buying an additional 1,182,451 shares during the period. 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 worth $83,948,000 after acquiring an additional 831,235 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in American Electric Power during the 1st quarter valued at $67,669,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 1.2 %

Shares of American Electric Power stock opened at $98.19 on Friday. 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 company has a market cap of $51.76 billion, a P/E ratio of 18.22, a PEG ratio of 2.79 and a beta of 0.54. The firm’s 50 day moving average price is $100.68 and its 200-day moving average price is $93.88. American Electric Power Company, Inc. has a 52-week low of $74.37 and a 52-week high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) 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 business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.79%. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 69.02%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley lifted their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim increased their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Scotiabank lifted their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target 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.