American Electric Power Company, Inc. (NASDAQ:AEP) Announces $0.78 Quarterly Dividend

American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) announced a quarterly dividend on Tuesday, April 26th, RTT News reports. Investors of record on Tuesday, May 10th will be paid a dividend of 0.78 per share on Friday, June 10th. This represents a $3.12 annualized dividend and a dividend yield of 3.10%.

AEP stock traded up $0.22 during mid-day trading on Tuesday, reaching $100.72. The company’s stock had a trading volume of 28,694 shares, compared to its average volume of 3,196,510. The business’s 50 day moving average price is $96.77 and its 200 day moving average price is $89.96. The company has a market cap of $50.82 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 3.55 and a beta of 0.35. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.38. American Electric Power has a 12 month low of $80.22 and a 12 month high of $104.81.

American Electric Power (NASDAQ:AEPGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. American Electric Power had a return on equity of 10.78% and a net margin of 14.80%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, equities analysts expect that American Electric Power will post 4.99 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on AEP shares. Credit Suisse Group assumed coverage on shares of American Electric Power in a research report on Monday. They set an “outperform” rating and a $113.00 price objective for the company. Seaport Res Ptn cut American Electric Power from a “buy” rating to a “neutral” rating in a research note on Monday, March 14th. Morgan Stanley lifted their price target on shares of American Electric Power from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Royal Bank of Canada raised their price objective on American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. Finally, Mizuho increased their price objective on shares of American Electric Power from $94.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, March 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, American Electric Power has a consensus rating of “Buy” and an average price target of $104.70.

In other news, CEO Nicholas K. Akins sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $89.91, for a total transaction of $188,811.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 1,064 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $85.71, for a total value of $91,195.44. The disclosure for this sale can be found here. Insiders sold a total of 32,562 shares of company stock worth $3,040,061 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covington Capital Management acquired a new position in American Electric Power during the fourth quarter worth about $35,000. Boston Private Wealth LLC boosted its stake in shares of American Electric Power by 5.3% during the 4th quarter. Boston Private Wealth LLC now owns 10,907 shares of the company’s stock worth $970,000 after acquiring an additional 550 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of American Electric Power by 8.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 12,582 shares of the company’s stock worth $1,119,000 after acquiring an additional 968 shares during the last quarter. V Wealth Advisors LLC raised its position in shares of American Electric Power by 412.8% during the fourth quarter. V Wealth Advisors LLC now owns 2,677 shares of the company’s stock worth $239,000 after purchasing an additional 2,155 shares during the period. Finally, Forum Financial Management LP acquired a new position in shares of American Electric Power in the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.

American Electric Power Company Profile (Get Rating)

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.

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Dividend History for American Electric Power (NASDAQ:AEP)

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