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

American Electric Power Company, Inc. (NASDAQ:AEP) hit a new 52-week high during trading on Monday . The company traded as high as $109.76 and last traded at $108.82, with a volume of 524706 shares. The stock had previously closed at $106.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. BMO Capital Markets increased their target price on shares of American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 26th. Bank of America boosted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.77.

American Electric Power Price Performance

The stock has a 50 day moving average of $103.23 and a two-hundred day moving average of $99.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm has a market capitalization of $57.84 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same period in the previous year, the business earned $1.23 earnings per share. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

Hedge Funds Weigh In On American Electric Power

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in American Electric Power by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock worth $4,767,425,000 after buying an additional 763,813 shares during the period. State Street Corp increased its position in American Electric Power by 4.3% during the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after acquiring an additional 1,114,954 shares during the period. GQG Partners LLC raised its stake in American Electric Power by 3.7% during the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company’s stock valued at $1,389,032,000 after purchasing an additional 543,054 shares during the last quarter. Geode Capital Management LLC boosted its holdings in American Electric Power by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company’s stock valued at $1,178,174,000 after purchasing an additional 283,311 shares during the period. Finally, Invesco Ltd. grew its position in American Electric Power by 9.1% in the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company’s stock worth $793,510,000 after purchasing an additional 716,229 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.