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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley dropped their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets lowered their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Scotiabank downgraded 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 report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Stock Performance

The stock has a market capitalization of $56.16 billion, a PE ratio of 18.81, a PEG ratio of 2.95 and a beta of 0.58. 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 firm has a 50 day moving average price of $96.51 and a 200-day moving average price of $98.08.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting 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 previous year, the company earned $1.23 earnings per share. Research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

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

Institutional Trading of American Electric Power

Several institutional investors have recently bought and sold shares of the business. Ascent Group LLC grew its holdings in American Electric Power by 0.4% in the fourth quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock valued at $2,572,000 after purchasing an additional 102 shares during the period. WNY Asset Management LLC grew its holdings in American Electric Power by 12.6% in the fourth quarter. WNY Asset Management LLC now owns 2,679 shares of the company’s stock valued at $247,000 after purchasing an additional 300 shares during the period. Putney Financial Group LLC acquired a new stake in American Electric Power in the fourth quarter valued at approximately $90,000. Peak Retirement Planning Inc. acquired a new stake in American Electric Power in the fourth quarter valued at approximately $255,000. Finally, GF Fund Management CO. LTD. acquired a new stake in American Electric Power in the fourth quarter valued at approximately $16,032,000. 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.