Moors & Cabot Inc. Buys 1,562 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Moors & Cabot Inc. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,482 shares of the company’s stock after purchasing an additional 1,562 shares during the quarter. Moors & Cabot Inc.’s holdings in American Electric Power were worth $1,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jaffetilchin Investment Partners LLC increased its holdings in American Electric Power by 2.0% during the first quarter. Jaffetilchin Investment Partners LLC now owns 6,010 shares of the company’s stock valued at $592,000 after buying an additional 117 shares during the period. Carmel Capital Partners LLC increased its holdings in shares of American Electric Power by 4.4% in the 2nd quarter. Carmel Capital Partners LLC now owns 2,846 shares of the company’s stock valued at $240,000 after acquiring an additional 119 shares during the period. Thrivent Financial for Lutherans raised its position in shares of American Electric Power by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock worth $2,445,000 after acquiring an additional 119 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in shares of American Electric Power by 66.7% during the 1st quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Finally, Gateway Wealth Partners LLC boosted its position in American Electric Power by 2.5% during the first quarter. Gateway Wealth Partners LLC now owns 5,268 shares of the company’s stock valued at $479,000 after purchasing an additional 127 shares in the last quarter. 74.68% of the stock is owned by institutional investors.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $0.71 on Thursday, hitting $77.24. 319,983 shares of the company were exchanged, compared to its average volume of 3,055,251. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $76.38 and a 200 day moving average price of $81.07. The stock has a market capitalization of $40.62 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.49. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $100.32.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Thursday, November 2nd. The company reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.08). American Electric Power had a return on equity of 10.73% and a net margin of 11.72%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $1.62 earnings per share. American Electric Power’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.27 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 Friday, December 8th. Investors of record on Friday, November 10th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.83. American Electric Power’s dividend payout ratio (DPR) is 80.73%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America decreased their price objective on American Electric Power from $91.00 to $77.00 in a report on Thursday, October 12th. Guggenheim lowered their target price on shares of American Electric Power from $96.00 to $85.00 in a research note on Monday, October 9th. Barclays cut their price target on shares of American Electric Power from $88.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 24th. JPMorgan Chase & Co. dropped their price objective on shares of American Electric Power from $96.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Finally, Morgan Stanley reduced their target price on American Electric Power from $97.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.37.

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.