Investors Sell Shares of American Electric Power Co. (AEP) on Strength on Analyst Downgrade
Investors sold shares of American Electric Power Co. (NYSE:AEP) on strength during trading 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 companies tracked, American Electric Power had the 24th highest net out-flow for the day. American Electric Power traded up $0.53 for the day and closed at $62.53
Other equities research analysts have also issued research reports about the stock. RBC Capital Markets restated a “hold” rating and issued a $67.00 target price on shares of American Electric Power in a research note on Thursday. Zacks Investment Research upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, September 13th. Jefferies Group lowered shares of American Electric Power from a “buy” rating to a “hold” rating and cut their target price for the company from $77.00 to $67.00 in a research note on Tuesday, September 20th. They noted that the move was a valuation call. KeyCorp set a $72.50 target price on shares of American Electric Power and gave the company a “buy” rating in a research note on Monday, September 12th. Finally, Morgan Stanley restated a “hold” rating on shares of American Electric Power in a research note on Wednesday, June 15th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. American Electric Power has a consensus rating of “Buy” and a consensus price target of $68.17.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in 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 during the period. Bank of Montreal Can acquired a new stake in shares of American Electric Power during the second quarter worth $261,970,000. State Street Corp boosted 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 worth $1,667,787,000 after buying an additional 1,758,073 shares during the last quarter. Renaissance Technologies LLC boosted 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 worth $154,878,000 after buying an additional 912,500 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of American Electric Power during the second quarter worth $58,332,000. Institutional investors and hedge funds own 68.71% of the company’s stock.
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The firm has a 50 day moving average price of $64.51 and a 200 day moving average price of $66.10. The firm has a market capitalization of $30.75 billion, a PE 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 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. On average, equities analysts predict that American Electric Power Co. will post $3.69 EPS for the current fiscal year.
About American Electric Power
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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