American Electric Power Co. (AEP) Sets New 12-Month High at $71.13
American Electric Power Co. (NYSE:AEP) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $71.13 and last traded at $70.93, with a volume of 1,500,193 shares traded. The stock had previously closed at $70.81.
AEP has been the subject of several recent research reports. SunTrust Banks Inc. increased their price objective on shares of American Electric Power from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 14th. Bank of America Corp. reissued a “buy” rating on shares of American Electric Power in a research report on Tuesday, May 24th. Deutsche Bank AG reissued a “buy” rating on shares of American Electric Power in a research report on Wednesday, May 18th. Jefferies Group restated a “buy” rating on shares of American Electric Power in a research note on Saturday, April 30th. Finally, Morgan Stanley restated a “hold” rating on shares of American Electric Power in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. American Electric Power currently has a consensus rating of “Buy” and a consensus target price of $65.25.
The firm has a market cap of $34.53 billion and a P/E ratio of 18.03. The firm has a 50 day moving average price of $66.58 and a 200 day moving average price of $63.56.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, April 28th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.04 by $0.02. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The business’s quarterly revenue was down 13.0% on a year-over-year basis. Equities analysts anticipate that American Electric Power Co. will post $3.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.19%. The ex-dividend date was Friday, May 6th.
In other news, EVP Mark C. Mccullough purchased 4,425 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were bought at an average price of $64.33 per share, with a total value of $284,660.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert P. Powers sold 1,046 shares of American Electric Power stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $65.39, for a total transaction of $68,397.94. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC raised its position in American Electric Power by 0.9% in the fourth quarter. Chicago Equity Partners LLC now owns 20,170 shares of the company’s stock worth $1,175,000 after buying an additional 180 shares in the last quarter. Eaton Vance Management raised its position in American Electric Power by 0.6% in the fourth quarter. Eaton Vance Management now owns 47,575 shares of the company’s stock worth $2,772,000 after buying an additional 300 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in American Electric Power by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,068 shares of the company’s stock worth $1,869,000 after buying an additional 549 shares in the last quarter. ARGI Investment Services LLC raised its position in American Electric Power by 3.8% in the fourth quarter. ARGI Investment Services LLC now owns 22,037 shares of the company’s stock worth $1,284,000 after buying an additional 803 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its position in American Electric Power by 4.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 24,605 shares of the company’s stock worth $1,434,000 after buying an additional 945 shares in the last quarter.
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.