Shares of American Electric Power Company, Inc. (NYSE:AEP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $76.13 and last traded at $74.78, with a volume of 2133700 shares trading hands. The stock had previously closed at $75.49.
A number of brokerages have commented on AEP. KeyCorp reissued a “buy” rating and issued a $73.00 price objective on shares of American Electric Power in a research note on Friday, September 1st. Bank of America Corporation began coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price objective for the company. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $73.00 price objective on shares of American Electric Power in a research note on Tuesday, October 3rd. Finally, Morgan Stanley lifted their price objective on shares of American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. American Electric Power currently has a consensus rating of “Hold” and an average price target of $73.91.
The company has a debt-to-equity ratio of 1.01, a current ratio of 0.56 and a quick ratio of 0.43. The stock has a market capitalization of $38,070.00, a P/E ratio of 21.88, a P/E/G ratio of 4.43 and a beta of 0.29.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. American Electric Power’s revenue for the quarter was down 12.8% on a year-over-year basis. sell-side analysts anticipate that American Electric Power Company, Inc. will post 3.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, November 9th. This is a boost from American Electric Power’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.20%. American Electric Power’s payout ratio is currently 64.75%.
Hedge funds have recently added to or reduced their stakes in the stock. Ledyard National Bank lifted its holdings in American Electric Power by 52.6% during the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in American Electric Power during the 1st quarter valued at about $105,000. Smithfield Trust Co. lifted its holdings in American Electric Power by 8.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after buying an additional 125 shares in the last quarter. Zions Bancorporation lifted its holdings in American Electric Power by 1.3% during the 1st quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares in the last quarter. Finally, Thompson Davis & CO. Inc. lifted its holdings in American Electric Power by 0.3% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock valued at $121,000 after buying an additional 6 shares in the last quarter. 71.37% of the stock is owned by hedge funds and other institutional investors.
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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.
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