American Electric Power Co. (AEP) Trading Down 1.1%
Shares of American Electric Power Co. (NYSE:AEP) traded down 1.1% on Monday . The company traded as low as $66.80 and last traded at $66.80, with a volume of 965,103 shares. The stock had previously closed at $67.55.
Several analysts recently weighed in on the stock. Morgan Stanley reissued a “hold” rating on shares of American Electric Power in a research note on Wednesday, June 15th. Citigroup Inc. boosted their price objective 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. KeyCorp reissued an “outperform” rating and issued a $72.50 price objective (up previously from $69.00) on shares of American Electric Power in a research note on Saturday, July 2nd. Jefferies Group reissued a “buy” rating on shares of American Electric Power in a research note on Saturday, April 30th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $68.00 price objective on shares of American Electric Power in a research note on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $66.97.
The firm has a 50 day moving average price of $69.16 and a 200-day moving average price of $65.60. The firm has a market cap of $32.71 billion and a P/E ratio of 16.42.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. American Electric Power’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Equities research analysts expect that American Electric Power Co. will post $3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.37%.
In other American Electric Power news, EVP Mark C. Mccullough bought 4,425 shares of American Electric Power stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink.
Other institutional investors have added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in American Electric Power by 38.3% in the fourth quarter. Victory Capital Management Inc. now owns 49,950 shares of the company’s stock valued at $2,911,000 after buying an additional 13,827 shares in the last quarter. Eaton Vance Management raised its stake in shares of 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 during the period. Marshall Wace LLP raised its stake in shares of American Electric Power by 837.7% in the fourth quarter. Marshall Wace LLP now owns 37,791 shares of the company’s stock worth $2,202,000 after buying an additional 33,761 shares during the period. Advisors Asset Management Inc. raised its stake in shares of American Electric Power by 13.5% in the fourth quarter. Advisors Asset Management Inc. now owns 46,611 shares of the company’s stock worth $2,716,000 after buying an additional 5,554 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of American Electric Power by 3.2% in the fourth quarter. Jennison Associates LLC now owns 2,002,247 shares of the company’s stock worth $116,671,000 after buying an additional 62,514 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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