American Electric Power Company, Inc. (NASDAQ:AEP) Sees Significant Increase in Short Interest

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

American Electric Power Trading Up 0.4 %

AEP opened at $97.25 on Friday. American Electric Power has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The company has a 50-day simple moving average of $94.52 and a 200 day simple moving average of $96.84. The stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.58 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Ratings Changes

A number of research firms have recently commented on AEP. Evercore ISI dropped their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. UBS Group lifted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and upped their price objective for the company from $98.00 to $104.00 in a research note on Monday, January 13th. Morgan Stanley lowered their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.00.

Institutional Investors Weigh In On American Electric Power

Several large investors have recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the third quarter worth $33,000. Reston Wealth Management LLC purchased a new stake in American Electric Power in the 3rd quarter valued at $48,000. Friedenthal Financial purchased a new position in American Electric Power during the 3rd quarter worth $50,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of American Electric Power in the 3rd quarter worth $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.