NEW YORK ( TheStreet) -- American Electric Power (NYSE: AEP) hit a new 52-week high Wednesday as it is currently trading at $40.32, above its previous 52-week high of $40.08 with 471,029 shares traded as of 10:10 a.m. ET. Average volume has been 3.8 million shares over the past 30 days.

American Electric has a market cap of $18.97 billion and is part of the utilities sector and utilities industry. Shares are up 11% year to date as of the close of trading on Tuesday.

American Electric Power Company, Inc., together with its subsidiaries, engages in the generation, transmission, and distribution of electric power to retail customers. The company generates electricity using coal and lignite, natural gas, nuclear, and hydroelectric energy. The company has a P/E ratio of 12.3, above the average utilities industry P/E ratio of 10.5 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates American Electric as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, revenue growth, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full American Electric Ratings Report.

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