Insider Selling: Mark Mccullough Sells 2,931 Shares of American Electric Power Co. Stock (AEP)
American Electric Power Co. (NYSE:AEP) EVP Mark Mccullough sold 2,931 shares of the company’s stock on the open market in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $46.68, for a total value of $136,819.08. The sale was disclosed in a document filed with the SEC, which is available at this link.
American Electric Power Co. (NYSE:AEP) traded up 0.04% on Monday, hitting $47.30. The stock had a trading volume of 12,246,640 shares. American Electric Power Co. has a 1-year low of $40.56 and a 1-year high of $51.60. The stock has a 50-day moving average of $43. and a 200-day moving average of $46.64. The company has a market cap of $23.012 billion and a P/E ratio of 19.87.
American Electric Power Co. (NYSE:AEP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that American Electric Power Co. will post $3.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Wednesday, November 6th. This is a positive change from American Electric Power Co.’s previous quarterly dividend of $0.49.
A number of analysts have recently weighed in on AEP shares. Analysts at Jefferies Group cut their price target on shares of American Electric Power Co. from $52.50 to $52.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of American Electric Power Co. in a research note to investors on Thursday. They now have a $48.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of American Electric Power Co. in a research note to investors on Wednesday, October 9th. They now have a $46.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.08.
American Electric Power Company, Inc (NYSE:AEP) is a 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.
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