American Electric Power (NASDAQ:AEP) Hits New 52-Week High After Dividend Announcement

American Electric Power Company, Inc. (NASDAQ:AEP)’s share price hit a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as $110.51 and last traded at $110.16, with a volume of 3501207 shares trading hands. The stock had previously closed at $108.54.

The newly announced dividend which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.38%. American Electric Power’s payout ratio is 71.68%.

Analysts Set New Price Targets

Several equities analysts recently commented on AEP shares. Barclays increased their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, April 22nd. Guggenheim increased their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. BMO Capital Markets increased their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price target on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Finally, Citigroup increased their price target on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $108.31.

American Electric Power Trading Up 1.5%

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The company’s fifty day simple moving average is $102.92 and its 200-day simple moving average is $102.87. The company has a market capitalization of $58.85 billion, a P/E ratio of 21.23, a PEG ratio of 2.88 and a beta of 0.42.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. Research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

Insider Buying and Selling

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president owned 10,274 shares of the company’s stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the sale, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 over the last three months. 0.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EQ Wealth Advisors LLC purchased a new stake in American Electric Power in the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power during the fourth quarter worth about $28,000. Bank of New Hampshire acquired a new position in shares of American Electric Power during the first quarter worth about $28,000. Bayforest Capital Ltd acquired a new position in shares of American Electric Power during the first quarter worth about $31,000. Finally, Missouri Trust & Investment Co acquired a new position in shares of American Electric Power during the second quarter worth about $31,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About American Electric Power

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.