Investors Buy American Electric Power Co. (AEP) on Weakness
Investors purchased shares of American Electric Power Co. (NYSE:AEP) on weakness during trading hours on Friday. $43.41 million flowed into the stock on the tick-up and $24.35 million flowed out of the stock on the tick-down, for a money net flow of $19.06 million into the stock. Of all companies tracked, American Electric Power had the 14th highest net in-flow for the day. American Electric Power traded down ($0.79) for the day and closed at $67.85
Several research analysts recently issued reports on the stock. Jefferies Group reiterated a “buy” rating on shares of American Electric Power in a research note on Saturday, April 30th. Citigroup Inc. increased their price target on shares of American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Deutsche Bank AG reiterated a “buy” rating on shares of American Electric Power in a research note on Wednesday, May 18th. Barclays PLC increased their price target on shares of American Electric Power from $75.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Finally, Morgan Stanley reiterated a “hold” rating on shares of American Electric Power in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. American Electric Power currently has a consensus rating of “Buy” and an average target price of $66.97.
The stock has a 50-day moving average price of $69.08 and a 200-day moving average price of $65.12. The firm has a market cap of $33.36 billion and a P/E ratio of 16.74.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, analysts expect that American Electric Power Co. will post $3.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.30%.
In other news, EVP Mark C. Mccullough acquired 4,425 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was purchased at an average cost of $64.33 per share, for a total transaction of $284,660.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Other hedge funds have recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. increased its stake in American Electric Power by 4.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 24,605 shares of the company’s stock valued at $1,434,000 after buying an additional 945 shares during the last quarter. Eaton Vance Management increased its stake in American Electric Power by 0.6% in the fourth quarter. Eaton Vance Management now owns 47,575 shares of the company’s stock valued at $2,772,000 after buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. increased its stake in American Electric Power by 13.5% in the fourth quarter. Advisors Asset Management Inc. now owns 46,611 shares of the company’s stock valued at $2,716,000 after buying an additional 5,554 shares during the last quarter. Gluskin Sheff & Assoc Inc. purchased a new stake in American Electric Power during the fourth quarter valued at $1,672,000. Finally, BNP Paribas Arbitrage SA increased its stake in American Electric Power by 7.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 406,519 shares of the company’s stock valued at $23,688,000 after buying an additional 29,390 shares during 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.
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