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

Mainstay Capital Management LLC ADV increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.1% in the fourth quarter, Holdings Channel reports. The fund owned 15,587 shares of the company’s stock after purchasing an additional 323 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in American Electric Power were worth $1,438,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AEP. XML Financial LLC lifted its position in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after buying an additional 106 shares in the last quarter. PSI Advisors LLC lifted its position in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after buying an additional 107 shares in the last quarter. Garrison Asset Management LLC lifted its position in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after buying an additional 109 shares in the last quarter. Roanoke Asset Management Corp NY lifted its position in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares in the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in shares of American Electric Power by 3.7% during the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock valued at $286,000 after buying an additional 112 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of AEP opened at $105.33 on Monday. The stock has a 50-day simple moving average of $96.51 and a 200-day simple moving average of $98.07. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock has a market capitalization of $56.16 billion, a PE ratio of 18.81, a PEG ratio of 2.95 and a beta of 0.58. American Electric Power Company, Inc. has a 1 year low of $79.16 and a 1 year high of $105.73.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is presently 66.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AEP. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and increased their target price for the company from $98.00 to $104.00 in a research report on Monday, January 13th. BMO Capital Markets reduced their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Evercore ISI reduced their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight 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 has an average rating of “Hold” and an average target price of $98.00.

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.