Traders Sell American Electric Power Co. (AEP) on Strength on Analyst Downgrade
Traders 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 stocks tracked, American Electric Power had the 0th highest net out-flow for the day. American Electric Power traded up $0.53 for the day and closed at $62.53
Several other equities research analysts also recently weighed in on the company. Citigroup Inc. cut their price target on American Electric Power from $69.00 to $66.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. KeyCorp restated an “outperform” rating and set a $72.50 price target (up previously from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Hilliard Lyons downgraded American Electric Power from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Jefferies Group upped their price target on American Electric Power from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and upped their price target for the stock from $71.00 to $73.00 in a report on Tuesday, July 26th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $68.17.
Hedge funds have recently bought and sold shares of the company. Brick & Kyle Associates boosted its stake in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock worth $100,000 after buying an additional 225 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares during the period. Van ECK Associates Corp acquired a new position in shares of American Electric Power during the second quarter worth about $104,000. Krilogy Financial LLC increased its position in shares of American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock worth $107,000 after buying an additional 785 shares during the period. Finally, Wealthcare Capital Management LLC acquired a new position in shares of American Electric Power during the second quarter worth about $108,000. 68.71% of the stock is owned by institutional investors.
The firm has a market capitalization of $30.63 billion, a price-to-earnings ratio of 15.38 and a beta of 0.23. The stock has a 50-day moving average price of $64.29 and a 200 day moving average price of $66.05.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The business earned $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. American Electric Power’s revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that American Electric Power Co. will post $3.69 earnings per share for the current year.
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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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