Traders sold shares of American Electric Power Company, Inc. (NYSE:AEP) on strength during trading hours on Tuesday. $21.84 million flowed into the stock on the tick-up and $33.75 million flowed out of the stock on the tick-down, for a money net flow of $11.91 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 $0.55 for the day and closed at $71.35
AEP has been the subject of several recent analyst reports. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut American Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 price target on shares of American Electric Power in a research note on Wednesday, July 19th. Finally, Barclays PLC reissued an “overweight” rating and issued a $76.00 price target (up previously from $71.00) on shares of American Electric Power in a research note on Sunday, April 23rd. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $72.17.
The stock has a market capitalization of $35.49 billion, a price-to-earnings ratio of 62.10 and a beta of 0.30. The firm’s 50-day moving average is $70.00 and its 200 day moving average is $68.41.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.27%. American Electric Power’s payout ratio is presently 203.45%.
A number of hedge funds have recently added to or reduced their stakes in AEP. Candriam Luxembourg S.C.A. raised its stake in American Electric Power by 17.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 45,854 shares of the utilities provider’s stock valued at $3,078,000 after buying an additional 6,717 shares during the last quarter. Abner Herrman & Brock LLC raised its stake in American Electric Power by 7.6% in the first quarter. Abner Herrman & Brock LLC now owns 4,721 shares of the utilities provider’s stock valued at $317,000 after buying an additional 332 shares during the last quarter. Hexavest Inc. raised its stake in American Electric Power by 2.5% in the first quarter. Hexavest Inc. now owns 251,598 shares of the utilities provider’s stock valued at $16,890,000 after buying an additional 6,126 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in American Electric Power during the first quarter valued at about $617,000. Finally, Rothschild Investment Corp IL raised its stake in American Electric Power by 2.2% in the first quarter. Rothschild Investment Corp IL now owns 9,470 shares of the utilities provider’s stock valued at $636,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 70.77% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was first published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.com-unik.info/2017/08/19/traders-sell-american-electric-power-company-inc-nyseaep-on-strength-nyseaep-updated.html.
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 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.
What are top analysts saying about American Electric Power Company Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for American Electric Power Company Inc. and related companies.