Dumont & Blake Investment Advisors LLC Invests $230,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Dumont & Blake Investment Advisors LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,240 shares of the company’s stock, valued at approximately $230,000.

Other large investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. boosted its holdings in shares of American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares in the last quarter. Bank of Stockton boosted its holdings in shares of American Electric Power by 2.2% in the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing an additional 111 shares in the last quarter. First United Bank & Trust boosted its holdings in shares of American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after acquiring an additional 112 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of American Electric Power by 3.9% during the 1st quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Bank of America raised their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley raised their price objective on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $98.43.

American Electric Power Stock Performance

AEP stock opened at $98.19 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a 50-day moving average price of $100.68 and a 200-day moving average price of $93.82. The firm has a market cap of $51.76 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 1-year low of $74.37 and a 1-year high of $105.18.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 69.02%.

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.