American Electric Power Company, Inc. Declares Quarterly Dividend of $0.93 (NASDAQ:AEP)

American Electric Power Company, Inc. (NASDAQ:AEP - Get Free Report) declared a quarterly dividend on Tuesday, April 29th, RTT News reports. Shareholders of record on Friday, May 9th will be given a dividend of 0.93 per share on Tuesday, June 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.47%.

American Electric Power has increased its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 15 years. American Electric Power has a dividend payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect American Electric Power to earn $6.29 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 59.1%.

American Electric Power Price Performance

Shares of AEP traded up $0.27 during trading hours on Tuesday, hitting $107.33. 1,086,555 shares of the company were exchanged, compared to its average volume of 3,157,395. The company has a market cap of $57.28 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 2.97 and a beta of 0.43. The firm's fifty day moving average is $105.46 and its 200 day moving average is $99.82. American Electric Power has a fifty-two week low of $85.70 and a fifty-two week high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts' consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the prior year, the firm posted $1.23 earnings per share. On average, equities analysts anticipate that American Electric Power will post 5.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Barclays upped their target price on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Morgan Stanley set a $114.00 price target on American Electric Power and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Finally, Guggenheim raised American Electric Power from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power has an average rating of "Hold" and a consensus target price of $101.69.

Institutional Investors Weigh In On American Electric Power

A hedge fund recently raised its stake in American Electric Power stock. Brighton Jones LLC raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,601 shares of the company's stock after buying an additional 1,095 shares during the period. Brighton Jones LLC's holdings in American Electric Power were worth $978,000 as of its most recent filing with the Securities and Exchange Commission. 75.24% of the stock is owned by institutional investors.

American Electric Power Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.