American Electric Power Co. (AEP) Stock Price Down 2.5%
Shares of American Electric Power Co. (NYSE:AEP) traded down 2.5% during mid-day trading on Friday . The company traded as low as $64.63 and last traded at $64.70, with a volume of 3,138,054 shares. The stock had previously closed at $66.37.
A number of equities analysts have weighed in on the company. Morgan Stanley restated a “hold” rating on shares of American Electric Power in a report on Wednesday, June 15th. KeyCorp restated an “outperform” rating and issued a $72.50 price target (up previously from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Citigroup Inc. upped their price target on American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Jefferies Group restated a “buy” rating on shares of American Electric Power in a report on Saturday, April 30th. Finally, Barclays PLC upped their price target on American Electric Power from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $67.11.
The stock has a 50-day moving average of $68.29 and a 200 day moving average of $65.81. The stock has a market cap of $31.81 billion and a PE ratio of 15.96.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. On average, equities analysts predict that American Electric Power Co. will post $3.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.46%.
An institutional investor recently raised its position in American Electric Power stock. American International Group Inc. increased its position in shares of American Electric Power Co. (NYSE:AEP) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 209,684 shares of the company’s stock after buying an additional 4,045 shares during the period. American International Group Inc.’s holdings in American Electric Power were worth $12,219,000 as of its most recent filing with the SEC.
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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