American Electric Power Company COO Sells $428,860 in Stock (AEP)
American Electric Power Company (NYSE:AEP) COO Robert P. Powers sold 8,603 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $49.85, for a total transaction of $428,859.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
American Electric Power Company (NYSE:AEP) traded down 0.14% during mid-day trading on Monday, hitting $50.45. 974,103 shares of the company’s stock traded hands. American Electric Power Company has a 52 week low of $41.83 and a 52 week high of $55.94. The stock’s 50-day moving average is $53.62 and its 200-day moving average is $51.58. The company has a market cap of $24.653 billion and a P/E ratio of 14.25.
American Electric Power Company (NYSE:AEP) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.05. The company had revenue of $4.00 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company posted $0.73 earnings per share. American Electric Power Company’s revenue was up 11.1% compared to the same quarter last year. Analysts expect that American Electric Power Company will post $3.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Wednesday, August 6th.
A number of research firms have recently commented on AEP. Analysts at Morgan Stanley downgraded shares of American Electric Power Company from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $52.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of American Electric Power Company in a research note on Monday, July 28th. They now have a $56.00 price target on the stock, up previously from $52.00. Finally, analysts at RBC Capital raised their price target on shares of American Electric Power Company from $53.00 to $54.00 in a research note on Monday, July 28th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.13.
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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