Traders sold shares of American Electric Power Co. (NYSE:AEP) on strength during trading hours on Thursday after Royal Bank Of Canada lowered their price target on the stock from $72.00 to $67.00. $29.23 million flowed into the stock on the tick-up and $48.67 million flowed out of the stock on the tick-down, for a money net flow of $19.44 million out of the stock. Of all stocks tracked, American Electric Power had the 0th highest net out-flow for the day. American Electric Power traded up $0.53 for the day and closed at $62.53
Several other equities research analysts have also issued reports on AEP. RBC Capital Markets reiterated a “hold” rating and set a $67.00 price target (down from $72.00) on shares of American Electric Power in a report on Thursday. Barclays PLC raised their price objective on American Electric Power from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Citigroup Inc. raised their price objective on American Electric Power from $61.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Zacks Investment Research downgraded American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Finally, Morgan Stanley reissued a “hold” rating on shares of American Electric Power in a research note on Wednesday, June 15th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $68.17.
A number of hedge funds have recently made changes to their positions in AEP. FMR LLC raised its stake in shares of American Electric Power by 72.8% in the second quarter. FMR LLC now owns 9,114,402 shares of the company’s stock valued at $638,828,000 after buying an additional 3,840,681 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of American Electric Power during the second quarter valued at approximately $261,970,000. State Street Corp raised its stake in shares of American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock valued at $1,667,787,000 after buying an additional 1,758,073 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of American Electric Power by 64.3% in the first quarter. Renaissance Technologies LLC now owns 2,332,500 shares of the company’s stock valued at $154,878,000 after buying an additional 912,500 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of American Electric Power during the second quarter valued at approximately $58,332,000. 68.71% of the stock is currently owned by institutional investors and hedge funds.
The company’s 50 day moving average is $64.40 and its 200 day moving average is $66.07. The company has a market cap of $30.75 billion, a price-to-earnings ratio of 15.43 and a beta of 0.23.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, equities research analysts forecast that American Electric Power Co. will post $3.69 earnings per share for the current year.
American Electric Power Company Profile
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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