Insider Selling: Brian X. Tierney Sells 8,603 Shares of American Electric Power Company Stock (AEP)
American Electric Power Company (NYSE:AEP) CFO Brian X. Tierney sold 8,603 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $50.92, for a total transaction of $438,064.76. Following the transaction, the chief financial officer now directly owns 9,084 shares in the company, valued at approximately $462,557. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
AEP has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.13.
Shares of American Electric Power Company (NYSE:AEP) traded up 0.61% during mid-day trading on Friday, hitting $51.45. 1,644,595 shares of the company’s stock traded hands. American Electric Power Company has a 1-year low of $41.83 and a 1-year high of $55.94. The stock’s 50-day moving average is $53.16 and its 200-day moving average is $51.68. The company has a market cap of $25.142 billion and a P/E ratio of 14.42.
American Electric Power Company (NYSE:AEP) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts expect that American Electric Power Company will post $3.48 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 3.91%. The ex-dividend date is Wednesday, August 6th.
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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