American Electric Power (NASDAQ:AEP) Sets New 12-Month High – Still a Buy?

American Electric Power Company, Inc. (NASDAQ:AEP)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $105.31 and last traded at $105.24, with a volume of 624057 shares traded. The stock had previously closed at $104.35.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AEP. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $98.00 to $104.00 in a research note on Monday, January 13th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. Finally, BMO Capital Markets lowered their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has an average rating of “Hold” and an average target price of $98.00.

American Electric Power Price Performance

The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a market cap of $56.16 billion, a PE ratio of 18.81, a P/E/G ratio of 2.95 and a beta of 0.58. The stock has a 50-day simple moving average of $96.51 and a 200 day simple moving average of $98.08.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the prior year, the business posted $1.23 EPS. Equities analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.53%. American Electric Power’s dividend payout ratio is currently 66.43%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at about $28,000. Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at about $32,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of American Electric Power in the 3rd quarter valued at about $33,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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.