American Electric Power Company, Inc. (AEP) To Go Ex-Dividend on November 10th

American Electric Power Company, Inc. (NASDAQ:AEP) declared a quarterly dividend on Tuesday, October 20th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.97 per share on Thursday, December 10th. This represents a $3.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 2.1% increase from American Electric Power’s previous quarterly dividend of $0.95.

American Electric Power has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 15 years. American Electric Power has a dividend payout ratio of 61.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect American Electric Power to earn $6.90 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 56.2%.

American Electric Power Price Performance

NASDAQ AEP opened at $126.53 on Friday. The business has a 50 day simple moving average of $123.97 and a 200 day simple moving average of $128.18. American Electric Power has a 52-week low of $112.54 and a 52-week high of $140.58. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.40 and a current ratio of 0.51. The stock has a market cap of $68.90 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.59 and a beta of 0.46.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.19. American Electric Power had a net margin of 14.21% and a return on equity of 10.52%. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the firm posted $1.80 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. Analysts anticipate that American Electric Power will post 6.44 earnings per share for the current fiscal year.

Insider Activity at American Electric Power

In related news, CAO Kate Dixon sold 2,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief accounting officer owned 15,856 shares in the company, valued at approximately $1,982,000. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Electric Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEP. Cornerstone Advisory LLC lifted its holdings in American Electric Power by 1.3% in the 1st quarter. Cornerstone Advisory LLC now owns 5,831 shares of the company’s stock worth $764,000 after purchasing an additional 75 shares during the last quarter. Community Trust & Investment Co. grew its holdings in American Electric Power by 1.7% during the second quarter. Community Trust & Investment Co. now owns 4,730 shares of the company’s stock valued at $647,000 after purchasing an additional 77 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in American Electric Power by 1.3% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 6,263 shares of the company’s stock valued at $743,000 after purchasing an additional 80 shares during the last quarter. Hilton Head Capital Partners LLC raised its position in shares of American Electric Power by 3.9% in the third quarter. Hilton Head Capital Partners LLC now owns 2,121 shares of the company’s stock valued at $252,000 after purchasing an additional 80 shares during the period. Finally, Midwest Capital Advisors LLC raised its position in shares of American Electric Power by 23.2% in the third quarter. Midwest Capital Advisors LLC now owns 425 shares of the company’s stock valued at $50,000 after purchasing an additional 80 shares during the period. 75.24% of the stock is owned by institutional investors.

About American Electric Power

American Electric Power Company, Inc (NASDAQ:AEP) is an electric utility holding company based in Columbus, Ohio. Through its regulated utility subsidiaries, it generates or purchases electricity and delivers power to residential, commercial and industrial customers.

AEP’s operations include electric generation, transmission and distribution, with service territories across 11 states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.