Shares of American Electric Power Company Inc (NYSE:AEP) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $83.73 and last traded at $83.50, with a volume of 97479 shares. The stock had previously closed at $83.18.
Several analysts have recently issued reports on AEP shares. Barclays upped their target price on shares of American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 19th. Zacks Investment Research downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Monday, November 19th. Mizuho downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Thursday, January 3rd. They noted that the move was a valuation call. Finally, Guggenheim downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. American Electric Power has an average rating of “Buy” and an average price target of $78.21.
The company has a current ratio of 0.48, a quick ratio of 0.37 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $41.12 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 3.53 and a beta of 0.17.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 8th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, February 7th. American Electric Power’s payout ratio is currently 67.85%.
A number of hedge funds and other institutional investors have recently modified their holdings of AEP. Oregon Public Employees Retirement Fund grew its position in American Electric Power by 7,281.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,970,039 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 3,916,258 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of American Electric Power by 124.6% during the fourth quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock valued at $275,134,000 after purchasing an additional 2,042,518 shares during the period. Capital Research Global Investors boosted its stake in shares of American Electric Power by 9.1% during the third quarter. Capital Research Global Investors now owns 18,496,658 shares of the utilities provider’s stock valued at $1,311,043,000 after purchasing an additional 1,548,554 shares during the period. BlackRock Inc. boosted its stake in shares of American Electric Power by 3.9% during the fourth quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock valued at $2,741,691,000 after purchasing an additional 1,381,916 shares during the period. Finally, Bridgeway Capital Management Inc. purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $61,120,000. Institutional investors and hedge funds own 73.57% of the company’s stock.
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American Electric Power Company Profile (NYSE:AEP)
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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