American Electric Power (NASDAQ:AEP) Reaches New 12-Month High Following Dividend Announcement

Shares of American Electric Power Company, Inc. (NASDAQ:AEP - Get Free Report) reached a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as $110.51 and last traded at $110.16, with a volume of 3501207 shares changing 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 paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio is 71.68%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. UBS Group raised their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday, June 6th. Guggenheim lifted their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Barclays boosted their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $108.31.

American Electric Power Stock Performance

The stock's 50-day moving average price is $103.63 and its 200 day moving average price is $103.20. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The firm has a market cap of $58.21 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion for 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 firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Electric Power

Several institutional investors and hedge funds have recently modified their holdings of AEP. Eagle Strategies LLC lifted its position in American Electric Power by 1.7% during the second quarter. Eagle Strategies LLC now owns 5,515 shares of the company's stock worth $572,000 after purchasing an additional 94 shares during the period. Clarius Group LLC increased its position in American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock valued at $433,000 after acquiring an additional 95 shares during the period. McIlrath & Eck LLC raised its holdings in American Electric Power by 3.2% during the 1st quarter. McIlrath & Eck LLC now owns 3,147 shares of the company's stock worth $344,000 after purchasing an additional 99 shares during the last quarter. Safeguard Investment Advisory Group LLC raised its holdings in American Electric Power by 4.3% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock worth $223,000 after purchasing an additional 100 shares during the last quarter. Finally, Marcum Wealth LLC raised its holdings in American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after purchasing an additional 101 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.