Roanoke Asset Management Corp NY Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Roanoke Asset Management Corp NY lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,025 shares of the company’s stock after purchasing an additional 110 shares during the period. Roanoke Asset Management Corp NY’s holdings in American Electric Power were worth $516,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AEP. Pathway Financial Advisers LLC lifted its position in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after acquiring an additional 1,963,154 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in 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 valued at $193,541,000 after acquiring an additional 1,927,234 shares during the period. Nordea Investment Management AB lifted its position in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after acquiring an additional 1,581,734 shares during the period. National Bank of Canada FI lifted its position in American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after acquiring an additional 1,182,451 shares during the period. Finally, Zimmer Partners LP lifted its position in 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 acquiring an additional 831,235 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $97.25 on Friday. The firm has a market cap of $51.75 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.78 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12 month low of $74.97 and a 12 month high of $105.18. The stock’s fifty day moving average price is $100.68 and its 200-day moving average price is $94.35.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. American Electric Power’s dividend payout ratio (DPR) is 70.12%.

Analyst Ratings Changes

AEP has been the subject of a number of analyst reports. Scotiabank raised their price objective on shares of 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. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Wells Fargo & Company raised their price objective 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. BMO Capital Markets raised their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley raised their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.43.

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.