American Electric Power Company Inc(NYSE:AEP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $3.90B. Analysts estimated a revenue of $4.07B. Earnings per share were $0.95. Analysts had estimated an EPS of $0.88.
In a different note, On Jul 26, 2016, Goldman Sachs said it Upgrades its rating on American Electric Power Company Inc. In the research note, the firm Raises the price-target to $71.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 20, 2016, Citigroup said it Maintains its rating on American Electric Power Company Inc. In the research note, the firm Raises the price-target to $61.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 17, 2016, Jefferies said it Maintains its rating on American Electric Power Company Inc. In the research note, the firm Raises the price-target to $70.00 per share. The shares have been rated ‘Buy’ by the firm.
American Electric Power Company Inc (AEP) made into the market gainers list on Thursdays trading session with the shares advancing 0.28% or 0.19 points. Due to strong positive momentum, the stock ended at $68.64, which is also near the day’s high of $69.04. The stock began the session at $68.57 and the volume stood at 17,97,590 shares. The 52-week high of the shares is $71.32 and the 52 week low is $52.29. The company has a current market capitalization of $33,751 M and it has 49,17,09,450 shares in outstanding.
American Electric Power Company Inc has also declared a cash dividend of $0.5600 on Jul 26, 2016. The shares will quote ex-dividend on Aug 8, 2016 and the record date has been fixed on Aug 10, 2016. The dividend payable date has been fixed on Sep 9, 2016.
Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Mark C Mccullough (Executive Vice President) purchased 4,489 shares at $63.43 per share price.Also, On May 6, 2016, Robert P Powers (Executive Vice President, COO) sold 1,046 shares at $65.39 per share price.On Feb 3, 2016, Lionel L Iii Nowell (director) sold 8,209 shares at $62.00 per share price, according to the Form-4 filing with the securities and exchange commission.
American Electric Power Company Inc. is a utility holding company. It operates in five segments. The vertically integrated utilities segment generates transmits and distributes electricity through AEP Generating Company Appalachian Power Company Indiana Michigan Power Company Kingsport Power Company Kentucky Power Company Public Service Company of Oklahoma Southwestern Electric Power Company and Wheeling Power Company. The Transmission and Distribution Utilities segment transmits and distributes electricity through Ohio Power Company AEP Texas Central Company and AEP Texas North Company. The Generation & Marketing segments subsidiaries consist of nonutility generating assets a wholesale energy trading and marketing business and a retail supply and energy management business. AEP Transmission Holdco is a holding company for AEPs transmission joint ventures and AEP Transmission Company LLC. The AEP River Operations segment transports liquid coal and dry bulk commodities.