American Electric Power (NASDAQ:AEP) Hits New 12-Month High at $104.68

American Electric Power Company, Inc. (NASDAQ:AEP)’s share price reached a new 52-week high on Monday . The company traded as high as $104.68 and last traded at $104.46, with a volume of 13105 shares changing hands. The stock had previously closed at $104.17.

Analysts Set New Price Targets

A number of research firms have recently commented on AEP. BMO Capital Markets raised their price target on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Scotiabank upped their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Guggenheim lifted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.15.

American Electric Power Price Performance

The firm has a 50 day moving average of $97.39 and a two-hundred day moving average of $90.40. The company has a market cap of $55.22 billion, a PE ratio of 19.33, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. Research analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.36%. American Electric Power’s payout ratio is 65.31%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in American Electric Power in the fourth quarter worth approximately $26,000. Denali Advisors LLC purchased a new position in shares of American Electric Power during the 1st quarter worth $26,000. Rise Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $27,000. Finally, YHB Investment Advisors Inc. purchased a new stake in American Electric Power during the 1st quarter valued at approximately $29,000. 75.24% of the stock is owned by hedge funds and other 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.