Traders Sell Shares of American Electric Power (AEP) on Strength (AEP)
Traders sold shares of American Electric Power Company Inc (NYSE:AEP) on strength during trading on Monday. $38.82 million flowed into the stock on the tick-up and $93.86 million flowed out of the stock on the tick-down, for a money net flow of $55.04 million out of the stock. Of all companies tracked, American Electric Power had the 0th highest net out-flow for the day. American Electric Power traded up $0.37 for the day and closed at $68.13
A number of brokerages have recently issued reports on AEP. Royal Bank of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of American Electric Power in a report on Monday, October 30th. Macquarie raised American Electric Power from a “neutral” rating to an “outperform” rating and upped their price target for the company from $75.00 to $76.00 in a report on Monday. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Morgan Stanley raised American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price target on the stock in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $75.38.
The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56. The company has a market capitalization of $33,830.00, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 3.69 and a beta of 0.30.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.61%. American Electric Power’s dividend payout ratio is 64.75%.
A number of hedge funds have recently bought and sold shares of AEP. Pinebridge Investments L.P. lifted its holdings in American Electric Power by 904.1% in the second quarter. Pinebridge Investments L.P. now owns 4,177 shares of the utilities provider’s stock valued at $291,000 after acquiring an additional 3,761 shares during the period. Quantbot Technologies LP bought a new position in American Electric Power in the second quarter valued at about $147,000. Teachers Retirement System of The State of Kentucky lifted its holdings in American Electric Power by 29.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 138,224 shares of the utilities provider’s stock valued at $9,602,000 after acquiring an additional 31,084 shares during the period. Dimensional Fund Advisors LP lifted its holdings in American Electric Power by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 876,420 shares of the utilities provider’s stock valued at $60,886,000 after acquiring an additional 13,049 shares during the period. Finally, Veritable L.P. lifted its holdings in American Electric Power by 1.7% in the second quarter. Veritable L.P. now owns 19,031 shares of the utilities provider’s stock valued at $1,322,000 after acquiring an additional 313 shares during the period. 70.97% of the stock is currently owned by institutional investors.
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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