Investors purchased shares of American Electric Power Company, Inc. (NYSE:AEP) on weakness during trading on Monday. $82.63 million flowed into the stock on the tick-up and $33.26 million flowed out of the stock on the tick-down, for a money net flow of $49.37 million into the stock. Of all stocks tracked, American Electric Power had the 12th highest net in-flow for the day. American Electric Power traded down ($0.79) for the day and closed at $69.19
A number of analysts recently commented on AEP shares. Mizuho restated a “buy” rating and set a $72.50 price target on shares of American Electric Power in a research note on Wednesday, April 19th. Deutsche Bank AG increased their target price on shares of American Electric Power from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. BidaskClub cut shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $71.73.
The company has a market cap of $34.02 billion, a PE ratio of 48.52 and a beta of 0.30. The firm’s 50 day moving average is $70.44 and its 200-day moving average is $67.42.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, April 27th. The utilities provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.97 by $0.01. American Electric Power had a return on equity of 10.78% and a net margin of 4.31%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period last year, the firm posted $1.02 EPS. American Electric Power’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.
In other news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after buying an additional 32,463,953 shares during the last quarter. Bank of Montreal Can increased its stake in American Electric Power by 35.2% in the second quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock worth $303,342,000 after buying an additional 1,137,941 shares during the last quarter. Vanguard Group Inc. increased its stake in American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock worth $2,291,051,000 after buying an additional 1,124,366 shares during the last quarter. Wells Fargo & Company MN increased its stake in American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock worth $514,810,000 after buying an additional 1,069,388 shares during the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in American Electric Power during the first quarter worth about $56,864,000. 70.53% of the stock is currently owned by hedge funds and other institutional investors.
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About American Electric Power
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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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