American Electric Power Company, Inc. (NASDAQ:AEP) hit a new 52-week high during trading on Thursday . The company traded as high as $91.57 and last traded at $91.26, with a volume of 64341 shares changing hands. The stock had previously closed at $90.29.
A number of equities research analysts recently commented on the company. Mizuho dropped their target price on American Electric Power from $91.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, October 27th. Morgan Stanley upped their target price on American Electric Power from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $95.81.
The company has a 50 day moving average of $85.66 and a 200 day moving average of $86.10. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.48 and a current ratio of 0.58. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 3.23 and a beta of 0.37.
The business also recently announced a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Wednesday, November 10th were issued a $0.78 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.74. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, November 9th. American Electric Power’s dividend payout ratio is presently 65.14%.
In other news, CEO Nicholas K. Akins sold 2,100 shares of the stock in a transaction on Monday, November 1st. The stock was sold at an average price of $84.64, for a total transaction of $177,744.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 6,300 shares of company stock valued at $535,017. 0.14% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in American Electric Power by 12.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 91,911 shares of the company’s stock valued at $7,783,000 after purchasing an additional 10,525 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in American Electric Power in the 2nd quarter valued at about $493,000. Atria Investments LLC raised its position in American Electric Power by 17.6% in the 2nd quarter. Atria Investments LLC now owns 29,752 shares of the company’s stock valued at $2,517,000 after purchasing an additional 4,458 shares in the last quarter. Van ECK Associates Corp raised its position in American Electric Power by 11.5% in the 2nd quarter. Van ECK Associates Corp now owns 77,436 shares of the company’s stock valued at $6,550,000 after purchasing an additional 8,003 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in American Electric Power by 2.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 112,532 shares of the company’s stock valued at $9,519,000 after purchasing an additional 2,763 shares in the last quarter. Institutional investors own 72.92% of the company’s stock.
American Electric Power Company Profile (NASDAQ:AEP)
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
Read More: Cash Flow
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.