Short Interest in American Electric Power Company, Inc. (NASDAQ:AEP) Rises By 16.7%

American Electric Power Company, Inc. (NASDAQ:AEP) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 10,080,000 shares, an increase of 16.7% from the December 31st total of 8,640,000 shares. Based on an average daily trading volume, of 2,800,000 shares, the days-to-cover ratio is currently 3.6 days.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AEP shares. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $105.00 to $102.00 in a report on Thursday, December 12th. UBS Group upped their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets lowered their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Barclays lowered their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.00.

Institutional Trading of American Electric Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Secure Asset Management LLC increased its position in shares of American Electric Power by 22.4% during the 4th quarter. Secure Asset Management LLC now owns 23,916 shares of the company’s stock worth $2,206,000 after purchasing an additional 4,370 shares during the last quarter. Grove Bank & Trust increased its position in shares of American Electric Power by 436.9% during the 4th quarter. Grove Bank & Trust now owns 7,092 shares of the company’s stock worth $654,000 after purchasing an additional 5,771 shares during the last quarter. J2 Capital Management Inc purchased a new position in American Electric Power during the 4th quarter valued at about $419,000. Principal Financial Group Inc. boosted its holdings in American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after acquiring an additional 19,081 shares during the period. Finally, New England Asset Management Inc. purchased a new position in American Electric Power during the 3rd quarter valued at about $3,404,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.3 %

NASDAQ AEP opened at $98.36 on Friday. The business has a fifty day moving average price of $95.09 and a 200 day moving average price of $97.48. American Electric Power has a one year low of $75.22 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The company has a market cap of $52.34 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.78 and a beta of 0.56.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 74.55%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.