American Electric Power Company Inc (NYSE:AEP) declared a quarterly dividend on Tuesday, January 23rd, RTT News reports. Investors of record on Friday, February 9th will be given a dividend of 0.62 per share by the utilities provider on Friday, March 9th. This represents a $2.48 dividend on an annualized basis and a yield of 3.64%.
American Electric Power has increased its dividend by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. American Electric Power has a payout ratio of 68.7% 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 $2.48 annual dividend with an expected future payout ratio of 63.9%.
American Electric Power (NYSE:AEP) traded up $0.37 during mid-day trading on Tuesday, reaching $68.13. 4,622,500 shares of the company were exchanged, compared to its average volume of 3,753,864. The firm has a market cap of $33,860.00, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.67 and a beta of 0.30. American Electric Power has a twelve month low of $62.14 and a twelve month high of $78.07. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56.
Several equities analysts have issued reports on the stock. Jefferies Group restated a “hold” rating and issued a $73.00 price target on shares of American Electric Power in a research report on Tuesday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of American Electric Power to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Deutsche Bank cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America assumed coverage on shares of American Electric Power in a research report on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price target for the company. Finally, Royal Bank of Canada restated a “hold” rating and issued a $74.00 price target on shares of American Electric Power in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. American Electric Power currently has a consensus rating of “Buy” and an average price target of $75.38.
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About American Electric Power
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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