American Electric Power Company, Inc. (NYSE:AEP)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $73.36 and last traded at $73.27, with a volume of 1,051,463 shares trading hands. The stock had previously closed at $72.81.

Several brokerages have recently weighed in on AEP. BidaskClub cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC lifted their price target on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $70.00 in a research report on Monday, June 26th. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. American Electric Power has a consensus rating of “Buy” and a consensus price target of $72.17.

The company has a 50-day moving average of $70.09 and a 200-day moving average of $68.54. The firm has a market capitalization of $36.03 billion, a price-to-earnings ratio of 63.04 and a beta of 0.30.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by $0.07. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned $0.95 EPS. On average, equities analysts predict that American Electric Power Company, Inc. will post $3.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.24%. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. bought a new position in American Electric Power during the first quarter valued at $56,864,000. Point72 Asia Hong Kong Ltd bought a new position in American Electric Power during the first quarter valued at $105,000. Peapack Gladstone Financial Corp increased its position in American Electric Power by 2.5% in the first quarter. Peapack Gladstone Financial Corp now owns 8,295 shares of the utilities provider’s stock valued at $557,000 after buying an additional 200 shares during the period. Cambridge Trust Co. increased its position in American Electric Power by 60.3% in the first quarter. Cambridge Trust Co. now owns 6,340 shares of the utilities provider’s stock valued at $426,000 after buying an additional 2,385 shares during the period. Finally, Bank of The Ozarks increased its position in American Electric Power by 1.0% in the first quarter. Bank of The Ozarks now owns 6,561 shares of the utilities provider’s stock valued at $441,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 70.77% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/08/23/american-electric-power-company-inc-aep-reaches-new-12-month-high-at-73-36.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.