Investors Buy Shares of American Electric Power (AEP) on Weakness

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Traders bought shares of American Electric Power Company Inc (NYSE:AEP) on weakness during trading hours on Friday. $67.10 million flowed into the stock on the tick-up and $37.12 million flowed out of the stock on the tick-down, for a money net flow of $29.98 million into the stock. Of all companies tracked, American Electric Power had the 17th highest net in-flow for the day. American Electric Power traded down ($0.65) for the day and closed at $72.68

AEP has been the topic of a number of recent analyst reports. Goldman Sachs Group raised American Electric Power from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $76.00 to $74.00 in a report on Thursday, July 19th. Morgan Stanley upped their price objective on American Electric Power from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. SunTrust Banks reaffirmed a “buy” rating and set a $80.00 price objective on shares of American Electric Power in a report on Wednesday, July 25th. Zacks Investment Research lowered American Electric Power from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Finally, Barclays initiated coverage on American Electric Power in a report on Tuesday, July 10th. They issued an “overweight” rating and a $81.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. American Electric Power has an average rating of “Buy” and a consensus price target of $75.44.

The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.05. The firm has a market cap of $36.10 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 3.36 and a beta of 0.09.

American Electric Power (NYSE:AEP) last posted its earnings results on Wednesday, July 25th. The utilities provider reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.13. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.85 billion. American Electric Power had a return on equity of 10.50% and a net margin of 12.09%. American Electric Power’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. research analysts anticipate that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 10th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, August 9th. American Electric Power’s payout ratio is currently 67.39%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of American Electric Power by 413.8% during the second quarter. FMR LLC now owns 2,250,095 shares of the utilities provider’s stock valued at $155,819,000 after acquiring an additional 1,812,198 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of American Electric Power during the second quarter valued at $237,000. Schroder Investment Management Group boosted its stake in shares of American Electric Power by 28.2% during the second quarter. Schroder Investment Management Group now owns 39,793 shares of the utilities provider’s stock valued at $2,759,000 after acquiring an additional 8,750 shares during the last quarter. City Holding Co. boosted its stake in shares of American Electric Power by 21.9% during the second quarter. City Holding Co. now owns 6,788 shares of the utilities provider’s stock valued at $470,000 after acquiring an additional 1,221 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of American Electric Power by 23.0% during the second quarter. California Public Employees Retirement System now owns 1,405,904 shares of the utilities provider’s stock valued at $97,359,000 after acquiring an additional 262,695 shares during the last quarter. 72.52% of the stock is currently owned by institutional investors and hedge funds.

About American Electric Power (NYSE:AEP)

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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