American Electric Power Company, Inc. (NASDAQ:AEP) to Issue Quarterly Dividend of $0.93

American Electric Power Company, Inc. (NASDAQ:AEP) declared a quarterly dividend on Tuesday, January 21st,RTT News reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.93 per share on Monday, March 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.80%.

American Electric Power has raised its dividend by an average of 6.0% annually over the last three years and has increased its dividend every year for the last 15 years. American Electric Power has a dividend payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Analysts expect American Electric Power to earn $5.86 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 63.5%.

American Electric Power Price Performance

AEP stock traded up $0.56 during trading on Tuesday, hitting $97.81. The company had a trading volume of 2,439,502 shares, compared to its average volume of 3,320,684. The business has a 50 day moving average of $94.58 and a 200 day moving average of $97.04. The firm has a market capitalization of $52.05 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 2.76 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Barclays decreased their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 26th. BMO Capital Markets dropped their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company decreased their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $98.00 to $104.00 in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $98.00.

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.