American Electric Power Company Inc (NYSE:AEP) represents the third-largest long position of Englander, with the position totaling 7.53 million shares valued at $423.75 million. Englander’s stake in the utility holding company, which has a current market cap of $27.30 billion and a P/E ratio of 16.02, was increased by 203% during the first quarter. American Electric Power Company Inc (NYSE:AEP) reported its first quarter financial results on April 23, posting revenue of $4.7 billion and GAAP earnings of $629 million as compared to year-over-year revenue of $4.6 billion and GAAP earnings of $560 million. The electric company outperformed the market’s estimate earnings of $1.11 by 15.32%. AQR Capital Management, lead by Cliff Asness, is another investment manager holding a sizable investment in American Electric Power Company Inc (NYSE:AEP).
Israel Englander increased his stake in Noble Energy, Inc. (NYSE:NBL) by 326% to 7.67 million shares of the energy company, valued at $375.17 million. Noble Energy was one of the first companies to initiate the acquisition frenzy in the oil industry this year. The offshore E&P company will acquire Rosetta Resources Inc. (NASDAQ:ROSE), with the acquisition providing Noble Energy, Inc. with a strong position in two shale plays: the Eagle Ford and the Permian. More than 15 analysts have rated Noble Energy, Inc. (NYSE:NBL) with a “Buy” rating, with an average target price of $59.20, which indicates 33.48% upside for the stock. Boykin Curry’s Eagle Capital Management is the leading stockholder of Noble Energy, Inc. (NYSE:NBL with 17.12 million shares valued at $837.30 million.
After a 43% increase in its stake during the first quarter, Englander’s Devon Energy Corp (NYSE:DVN) holding ranks number five in its top long holdings, standing at 5.53 million shares valued at $334.00 million. Imperial Capital initiated coverage of Devon Energy Corp (NYSE:DVN) with an “Outperform” rating and target price of $92, indicating 38% upside potential for the stock. As many as 15 analysts rated it a “Buy”, with an average price target of $73.94, which suggests a potential upside of 10.67% from its current trading levels.