American Electric Power (AEP) Sets New 1-Year High at $86.77

American Electric Power Company Inc (NYSE:AEP) shares reached a new 52-week high during trading on Monday . The stock traded as high as $86.77 and last traded at $86.55, with a volume of 64125 shares. The stock had previously closed at $85.85.

Several research firms have recently commented on AEP. Morgan Stanley lifted their price objective on American Electric Power from $87.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, March 18th. UBS Group lifted their price objective on American Electric Power from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Goldman Sachs Group downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a report on Monday, April 8th. Finally, Wells Fargo & Co lifted their price objective on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $81.63.

The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19. The stock has a market cap of $42.72 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 3.68 and a beta of 0.17.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. Equities analysts predict that American Electric Power Company Inc will post 4.12 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.68 annualized dividend and a yield of 3.09%. American Electric Power’s payout ratio is 67.85%.

In other news, EVP David Matthew Feinberg sold 4,535 shares of American Electric Power stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total transaction of $388,740.20. Following the completion of the transaction, the executive vice president now directly owns 9,674 shares in the company, valued at $829,255.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas K. Akins sold 11,152 shares of American Electric Power stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,582 shares of company stock worth $1,842,763. Insiders own 0.16% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $25,000. Sageworth Trust Co raised its holdings in American Electric Power by 1,026.9% in the 1st quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 267 shares during the last quarter. Truvestments Capital LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $28,000. Capital Financial Planning LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $26,000. Finally, Claybrook Capital LLC purchased a new position in American Electric Power in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 73.99% of the company’s stock.

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American Electric Power Company Profile (NYSE:AEP)

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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