Boothbay Fund Management LLC Takes Position in American Electric Power Company Inc (AEP)

Boothbay Fund Management LLC purchased a new stake in American Electric Power Company Inc (NYSE:AEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,950 shares of the utilities provider’s stock, valued at approximately $277,000.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of American Electric Power by 188.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock valued at $375,000 after purchasing an additional 3,486 shares in the last quarter. Homrich & Berg boosted its holdings in American Electric Power by 2.0% in the second quarter. Homrich & Berg now owns 16,034 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 321 shares in the last quarter. Captrust Financial Advisors bought a new position in American Electric Power in the second quarter worth approximately $630,000. Neuberger Berman Group LLC boosted its holdings in American Electric Power by 5.5% in the second quarter. Neuberger Berman Group LLC now owns 724,256 shares of the utilities provider’s stock worth $50,314,000 after acquiring an additional 37,578 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in American Electric Power by 3.4% in the third quarter. Raymond James Trust N.A. now owns 25,915 shares of the utilities provider’s stock worth $1,820,000 after acquiring an additional 861 shares in the last quarter. 71.16% of the stock is owned by institutional investors.

American Electric Power Company Inc (NYSE:AEP) opened at $77.08 on Tuesday. American Electric Power Company Inc has a fifty-two week low of $60.88 and a fifty-two week high of $78.07. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $37,840.75, a P/E ratio of 22.11, a PEG ratio of 4.48 and a beta of 0.30.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. sell-side analysts forecast that American Electric Power Company Inc will post 3.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date was Thursday, November 9th. American Electric Power’s dividend payout ratio (DPR) is presently 64.92%.

AEP has been the topic of several recent research reports. ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Bank of America initiated coverage on American Electric Power in a report on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price target on the stock. KeyCorp reiterated a “buy” rating and issued a $73.00 price target on shares of American Electric Power in a report on Friday, September 1st. BidaskClub upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a report on Friday, September 8th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. American Electric Power currently has an average rating of “Hold” and an average price target of $73.91.

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About American Electric Power

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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