American Electric Power (NASDAQ:AEP) Reaches New 52-Week High at $105.49

American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $105.49 and last traded at $104.71, with a volume of 1985871 shares. The stock had previously closed at $103.98.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI increased their price objective on American Electric Power to $107.00 in a report on Monday, August 15th. Morgan Stanley increased their price objective on American Electric Power from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Citigroup increased their price objective on American Electric Power from $94.00 to $99.00 in a report on Thursday, July 28th. Finally, Credit Suisse Group increased their price objective on American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power has an average rating of “Moderate Buy” and a consensus target price of $105.71.

American Electric Power Price Performance

The firm has a fifty day moving average of $99.27 and a 200 day moving average of $98.51. The company has a market capitalization of $53.79 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.36 and a beta of 0.34. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.36.

American Electric Power (NASDAQ:AEPGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period last year, the company earned $1.18 EPS. American Electric Power’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were issued a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.12 annualized dividend and a yield of 2.98%. American Electric Power’s payout ratio is 61.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AEP. abrdn plc boosted its position in American Electric Power by 3.5% in the fourth quarter. abrdn plc now owns 289,100 shares of the company’s stock worth $25,721,000 after purchasing an additional 9,819 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in American Electric Power by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 951,850 shares of the company’s stock worth $84,683,000 after purchasing an additional 22,729 shares during the last quarter. Pinebridge Investments L.P. purchased a new position in American Electric Power in the fourth quarter worth about $53,000. Confluence Wealth Services Inc. purchased a new position in American Electric Power in the fourth quarter worth about $248,000. Finally, International Assets Investment Management LLC purchased a new position in shares of American Electric Power during the 4th quarter valued at about $231,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

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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