American Electric Power Company Inc. [NASDAQ: AEP] stock went on an upward path that rose over 4.09% on Tuesday, amounting to a one-week price increase of more than 3.94%. The company report on February 27, 2024 at 4:00 PM that AEP Completes Sale of New Mexico Solar Assets.
American Electric Power (Nasdaq: AEP) has completed the sale of its 50% interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC (Exus). AEP nets approximately $104 million in cash after tax, transaction fees and other customary adjustments.
AEP began the sale process in June 2023 and received necessary regulatory approval from the Federal Energy Regulatory Commission, New Mexico regulatory approvals associated with one of NMRD’s projects and clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
Over the last 12 months, AEP stock dropped by -7.03%. The one-year American Electric Power Company Inc. stock forecast points to a potential upside of 2.91. The average equity rating for AEP stock is currently 2.19, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $44.21 billion, with 525.88 million shares outstanding and 525.53 million shares in the current float. Compared to the average trading volume of 3.66M shares, AEP stock reached a trading volume of 7561657 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on American Electric Power Company Inc. [AEP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AEP shares is $86.59 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AEP stock is a recommendation set at 2.19. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Guggenheim have made an estimate for American Electric Power Company Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 22, 2024. The new note on the price target was released on January 11, 2024, representing the official price target for American Electric Power Company Inc. stock.
The Average True Range (ATR) for American Electric Power Company Inc. is set at 1.68, with the Price to Sales ratio for AEP stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 1.75, with the Price to Cash per share for the same quarter was set at 1.18.
AEP Stock Performance Analysis:
American Electric Power Company Inc. [AEP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.94. With this latest performance, AEP shares gained by 8.00% in over the last four-week period, additionally plugging by 5.98% over the last 6 months – not to mention a drop of -7.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AEP stock in for the last two-week period is set at 64.14, with the RSI for the last a single of trading hit 68.38, and the three-weeks RSI is set at 60.92 for American Electric Power Company Inc. [AEP]. The present Moving Average for the last 50 days of trading for this stock 80.28, while it was recorded at 82.37 for the last single week of trading, and 80.53 for the last 200 days.
Insight into American Electric Power Company Inc. Fundamentals:
American Electric Power Company Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.44 and a Current Ratio set at 0.60.
AEP Stock EPS
With the latest financial reports released by the company, American Electric Power Company Inc. posted 1.11/share EPS, while the average EPS was predicted by analysts to be reported at 1.11/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AEP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American Electric Power Company Inc. go to 4.20%.
American Electric Power Company Inc. [AEP] Institutonal Ownership Details
The top three institutional holders of AEP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AEP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AEP stock with ownership which is approximately 5.8325%.
