Investors Buy Shares of American Electric Power Co. (AEP) on Weakness
Investors purchased shares of American Electric Power Co. (NYSE:AEP) on weakness during trading 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 stocks 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
AEP has been the subject of a number of research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $68.00 price objective on shares of American Electric Power in a research note on Tuesday, April 19th. KeyCorp reaffirmed an “outperform” rating and set a $72.50 price objective (up previously from $69.00) on shares of American Electric Power in a research note on Saturday, July 2nd. Hilliard Lyons downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Jefferies Group upped their price objective on shares of American Electric Power from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Goldman Sachs Group Inc. raised shares of American Electric Power from a “neutral” rating to a “buy” rating and upped their price objective for the company from $71.00 to $73.00 in a research note on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.97.
The firm has a market capitalization of $33.36 billion and a P/E ratio of 16.74. The company’s 50-day moving average is $69.08 and its 200-day moving average is $65.12.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. During the same period in the prior year, the company posted $0.88 earnings per share. The business earned $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that American Electric Power Co. will post $3.69 earnings per share for the current year.
The firm 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 annualized dividend and a yield of 3.30%.
In other American Electric Power news, EVP Mark C. Mccullough acquired 4,425 shares of American Electric Power stock in a transaction that occurred on Thursday, May 26th. The stock was purchased at an average cost of $64.33 per share, with a total value of $284,660.25. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of large investors have made changes to their positions in AEP. Pittenger & Anderson Inc. increased its stake in shares of 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 in the last quarter. Eaton Vance Management increased 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 valued at $2,772,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. increased 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 valued at $2,716,000 after buying an additional 5,554 shares in the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of American Electric Power during the fourth quarter valued at about $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 worth $23,688,000 after buying an additional 29,390 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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