American Electric Power Company Inc. [NASDAQ: AEP] traded at a low on Tuesday, posting a -1.06 loss after which it closed the day’ session at $84.05. 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.
The results of the trading session contributed to over 4354527 shares changing hands. Over the past one week, the price volatility of American Electric Power Company Inc. stands at 1.97% while the volatility over the past one month is 1.87%.
The market cap for AEP stock reached $44.23 billion, with 526.18 million shares outstanding and 525.73 million shares in the current float. Compared to the average trading volume of 4.03M shares, AEP reached a trading volume of 4354527 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $86.53 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 2.24. 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.
Barclays have made an estimate for American Electric Power Company Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 28, 2024. The new note on the price target was released on January 22, 2024, representing the official price target for American Electric Power Company Inc. stock. Previously, the target price had yet another raise to $83, while Mizuho analysts kept a Neutral rating on AEP stock.
The Average True Range (ATR) for American Electric Power Company Inc. is set at 1.71, 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 1.17.
How has AEP stock performed recently?
American Electric Power Company Inc. [AEP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.02. With this latest performance, AEP shares gained by 6.89% in over the last four-week period, additionally plugging by 8.42% over the last 6 months – not to mention a drop of -5.66% 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 60.20, with the RSI for the last a single of trading hit 60.99, and the three-weeks RSI is set at 58.64 for American Electric Power Company Inc. [AEP]. The present Moving Average for the last 50 days of trading for this stock 80.54, while it was recorded at 84.50 for the last single week of trading, and 80.40 for the last 200 days.
American Electric Power Company Inc. [AEP]: Deeper insight into the 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.
Earnings analysis for American Electric Power Company Inc. [AEP]
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 5.15%.
Insider trade positions for American Electric Power Company Inc. [AEP]
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%.
