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

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 annualized dividend and a dividend yield of 3.80%.

American Electric Power has increased its dividend payment 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of NASDAQ AEP opened at $97.81 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power has a 12 month low of $75.22 and a 12 month high of $105.18. The business’s 50 day moving average is $94.58 and its two-hundred day moving average is $97.04. The company has a market cap of $52.05 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.76 and a beta of 0.56.

Analyst Ratings Changes

AEP has been the subject of several recent research reports. Scotiabank lowered shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Wells Fargo & Company cut 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 report on Thursday, November 7th. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Evercore ISI reduced their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Finally, BMO Capital Markets decreased their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average 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.