American Electric Power Company, Inc. Announces Quarterly Dividend of $0.59 (AEP)
American Electric Power Company, Inc. (NYSE:AEP) announced a quarterly dividend on Tuesday, July 25th, RTT News reports. Investors of record on Thursday, August 10th will be paid a dividend of 0.59 per share by the utilities provider on Friday, September 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.41%.
American Electric Power has raised its dividend by an average of 5.2% per year over the last three years and has increased its dividend every year for the last 4 years. American Electric Power has a payout ratio of 64.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect American Electric Power to earn $3.88 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 60.8%.
American Electric Power (NYSE AEP) traded down 0.455% on Tuesday, reaching $68.875. 695,131 shares of the company’s stock traded hands. The firm has a market cap of $33.87 billion, a price-to-earnings ratio of 48.299 and a beta of 0.30. The stock’s 50 day moving average is $70.44 and its 200 day moving average is $67.42. American Electric Power has a 52-week low of $57.89 and a 52-week high of $72.97.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.01. American Electric Power had a return on equity of 10.78% and a net margin of 4.31%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the company earned $1.02 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that American Electric Power will post $3.66 EPS for the current fiscal year.
AEP has been the subject of a number of research reports. Deutsche Bank AG raised their price objective on shares of American Electric Power from $70.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Mizuho reiterated a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a report on Wednesday, April 19th. Barclays PLC reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $71.00) on shares of American Electric Power in a report on Sunday, April 23rd. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC raised their price objective on shares of American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $71.73.
In related news, insider Paul Chodak III sold 1,110 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.
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American Electric Power Company Profile
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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