Stock Alert: American Electric Power Co. Reaches New 52-Week High

Shares of American Electric Power Co. Inc. (AEP) hit a new 52-week high of $102.08 on Friday, January 24, 2020. Currently, the trading volume is 547K versus an average volume of 2.38 million.

Recent Happenings:

As recently as on Jan. 21, AEP's board declared a regular quarterly cash dividend of 70 cents a share on the company's common stock, payable on March 10, 2020, to shareholders of record as of Feb. 10, 2020. This is the company's 439th consecutive quarterly common stock cash dividend.

American Electric Power, on Jan. 21, has been named to Fortune magazine's World's Most Admired Companies list in the electric and gas utilities sector for the seventh year in a row.

On Oct. 24, American Electric Power Q3 net income of $733.5 million or $1.49 per share versus $577.6 million or $1.17 per share last year. Revenue for the quarter was flat with the previous year's $4.3 billion.

Analysts polled by Thomson Reuters expected earnings of $1.32 per share on revenues of $4.71 billion. Analysts' estimates typically exclude certain special items.

Looking ahead to fiscal 2019, AEP increased and narrowed its operating earnings outlook range to $4.14 - $4.24 per share, from the prior range of $4.00 - $4.20 per share. The Street expects earnings of $4.21 per share for the year.

AEP's Q4 results are scheduled to be released on February 20. Wall Street analysts are currently looking for earnings of $0.59 per share on revenue of $4.27 billion for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Invest in the Best Pharma Stocks by Subscribing to RTT Biotech Investor.
Follow RTT