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American Electric Power Shares Sinking Lower, Down 1.4%

Published on Wed, 05/08/2013 - 10:36
By Robert Cotter

One of today's stocks on the move is American Electric Power (NYSE:AEP), down 1.4% to $50.37. The S&P is trading higher by 0.2% to 1,629 and the Dow is trading fractionally higher to 15,059.

American Electric Power Company, Inc.(AEP)is a public utility holding company. The Company provides electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. AEP serves portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Based on a current price of $50.37, American Electric Power is currently 5.6% above its average consensus analyst price target of $47.53. The stock should find initial support at its 50-day moving average (MA) of $48.83 and further support at its 200-day MA of $44.76.

Over the past year, American Electric Power has traded in a range of $37.43 to $51.60 and is now at $50.37, 35% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 0.63% higher over the past week, respectively.

By Robert Cotter
rcotter@fnno.com