American Electric Power (NYSE:AEP) hit a new 52-week high Wednesday as it is currently trading at $44.85, above its previous 52-week high of $44.84 with 80,892 shares traded as of 9:46 a.m. ET. Average volume has been 2.4 million shares over the past 30 days.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- American Electric Power (NYSE: AEP) hit a new 52-week high Wednesday as it is currently trading at $44.85, above its previous 52-week high of $44.84 with 80,892 shares traded as of 9:46 a.m. ET. Average volume has been 2.4 million shares over the past 30 days. American Electric has a market cap of $21.58 billion and is part of the utilities sector and utilities industry. Shares are up 7.8% year to date as of the close of trading on Tuesday. American Electric Power Company, Inc., a public utility holding company, engages in the generation, transmission, and distribution of electric power to retail customers. It generates electricity using coal and lignite, natural gas, nuclear energy, and hydroelectric energy. The company has a P/E ratio of 13.3, above the average utilities industry P/E ratio of 10.9 and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates American Electric as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, increase in net income, notable return on equity and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full American Electric Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.