Traders Buy American Electric Power Company, Inc. (NYSE:AEP) on Weakness

Traders bought shares of American Electric Power Company, Inc. (NYSE:AEP) on weakness during trading hours on Monday. $82.63 million flowed into the stock on the tick-up and $33.26 million flowed out of the stock on the tick-down, for a money net flow of $49.37 million into the stock. Of all stocks tracked, American Electric Power had the 12th highest net in-flow for the day. American Electric Power traded down ($0.79) for the day and closed at $69.19

A number of equities research analysts recently issued reports on AEP shares. Mizuho reiterated a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a research report on Wednesday, April 19th. Barclays PLC restated an “overweight” rating and set a $76.00 price target (up previously from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Jefferies Group LLC raised their price target on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, BidaskClub downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.17.

The company has a market cap of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30. The stock’s 50-day moving average price is $69.86 and its 200 day moving average price is $68.09.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.07. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter in the prior year, the company posted $0.95 earnings per share. Equities analysts anticipate that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s dividend payout ratio is 203.45%.

In related news, insider Paul Chodak III sold 1,110 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Brookfield Asset Management Inc. purchased a new stake in American Electric Power during the first quarter worth $56,864,000. Peapack Gladstone Financial Corp raised its stake in American Electric Power by 2.5% in the first quarter. Peapack Gladstone Financial Corp now owns 8,295 shares of the utilities provider’s stock worth $557,000 after buying an additional 200 shares during the period. Bank of The Ozarks raised its stake in American Electric Power by 1.0% in the first quarter. Bank of The Ozarks now owns 6,561 shares of the utilities provider’s stock worth $441,000 after buying an additional 68 shares during the period. ST Germain D J Co. Inc. raised its stake in American Electric Power by 0.6% in the first quarter. ST Germain D J Co. Inc. now owns 5,416 shares of the utilities provider’s stock worth $364,000 after buying an additional 34 shares during the period. Finally, Cambridge Trust Co. raised its stake in American Electric Power by 60.3% in the first quarter. Cambridge Trust Co. now owns 6,340 shares of the utilities provider’s stock worth $426,000 after buying an additional 2,385 shares during the period. 70.83% of the stock is currently owned by institutional investors.

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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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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