Traders Buy Shares of American Electric Power Co. (AEP) on Weakness
Traders bought shares of American Electric Power Co. (NYSE:AEP) on weakness during trading hours on Wednesday. $33.15 million flowed into the stock on the tick-up and $11.77 million flowed out of the stock on the tick-down, for a money net flow of $21.38 million into the stock. Of all stocks tracked, American Electric Power had the 6th highest net in-flow for the day. American Electric Power traded down ($0.42) for the day and closed at $69.35
A number of equities analysts have recently issued reports on AEP shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of American Electric Power in a research report on Wednesday, May 18th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Barclays PLC reduced their price target on American Electric Power from $71.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, April 28th. Jefferies Group upped their price target on American Electric Power from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, June 17th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of American Electric Power in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. American Electric Power presently has an average rating of “Buy” and a consensus price target of $65.75.
The company has a market cap of $34.07 billion and a P/E ratio of 17.80. The firm has a 50 day moving average of $68.06 and a 200 day moving average of $64.29.
American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, April 28th. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by $0.02. During the same period in the previous year, the company earned $1.28 earnings per share. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.49 billion. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, analysts anticipate that American Electric Power Co. will post $3.67 earnings per share for the current fiscal year.
In other news, COO Robert P. Powers sold 1,046 shares of American Electric Power stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $65.39, for a total transaction of $68,397.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Mccullough acquired 4,425 shares of the firm’s stock in a transaction dated Thursday, May 26th. The shares were purchased at an average cost of $64.33 per share, with a total value of $284,660.25. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in AEP. Azimuth Capital Management LLC boosted its stake in American Electric Power by 7.5% in the fourth quarter. Azimuth Capital Management LLC now owns 17,244 shares of the company’s stock valued at $1,005,000 after buying an additional 1,200 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of American Electric Power by 88.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 17,900 shares of the company’s stock worth $1,043,000 after buying an additional 8,400 shares during the period. Amica Pension Fund Board of Trustees bought a new stake in shares of American Electric Power during the fourth quarter worth $1,241,000. ARGI Investment Services LLC boosted its stake in shares of 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 during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of American Electric Power by 9.9% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 24,478 shares of the company’s stock worth $1,427,000 after buying an additional 2,205 shares during the period.
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.
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