Hoey Investments Inc. Makes New $112,000 Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Hoey Investments Inc. purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,210 shares of the company’s stock, valued at approximately $112,000.

Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in American Electric Power by 10.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,815 shares of the company’s stock worth $10,959,000 after buying an additional 10,173 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of American Electric Power by 6.4% during the third quarter. Rockefeller Capital Management L.P. now owns 114,567 shares of the company’s stock valued at $11,753,000 after acquiring an additional 6,928 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in American Electric Power in the 3rd quarter worth approximately $19,550,000. Edgestream Partners L.P. lifted its position in American Electric Power by 258.9% in the 3rd quarter. Edgestream Partners L.P. now owns 55,434 shares of the company’s stock valued at $5,688,000 after acquiring an additional 39,989 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in American Electric Power by 2.2% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 9,125 shares of the company’s stock valued at $936,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $106.96 on Monday. The stock’s fifty day moving average is $102.78 and its 200 day moving average is $99.10. American Electric Power Company, Inc. has a one year low of $79.16 and a one year high of $109.52. 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 cap of $57.08 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.97 and a beta of 0.50.

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

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.48%. American Electric Power’s dividend payout ratio (DPR) is presently 66.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AEP. BMO Capital Markets upped their price target on American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. Bank of America upped their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Scotiabank cut shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. Finally, Morgan Stanley boosted their target price on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $100.77.

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.