American Electric Power Company, Inc. (AEP) Announces Quarterly Dividend of $0.62
American Electric Power Company, Inc. (NYSE:AEP) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Friday, November 10th will be paid a dividend of 0.62 per share by the utilities provider on Friday, December 8th. This represents a $2.48 annualized dividend and a yield of 3.35%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59.
American Electric Power has raised its dividend payment by an average of 5.2% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. American Electric Power has a payout ratio of 64.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American Electric Power to earn $3.89 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 60.7%.
Shares of American Electric Power (AEP) traded down 0.250% during mid-day trading on Tuesday, reaching $73.735. The company had a trading volume of 780,935 shares. The company has a market capitalization of $36.27 billion, a PE ratio of 63.455 and a beta of 0.28. American Electric Power has a 52-week low of $57.89 and a 52-week high of $74.59. The company’s 50-day moving average price is $72.36 and its 200-day moving average price is $70.68.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.07). The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same period in the prior year, the company posted $0.95 EPS. On average, analysts forecast that American Electric Power will post $3.64 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on AEP shares. Goldman Sachs Group, Inc. (The) lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $70.00 in a research report on Monday, June 26th. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research report on Monday, July 10th. BidaskClub lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price objective on shares of American Electric Power in a research report on Wednesday, July 19th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $73.64.
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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