Short Interest in American Electric Power Company, Inc. (NASDAQ:AEP) Rises By 7.2%

American Electric Power Company, Inc. (NASDAQ:AEP) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 8,180,000 shares, a growth of 7.2% from the November 15th total of 7,630,000 shares. Based on an average daily volume of 2,760,000 shares, the days-to-cover ratio is currently 3.0 days.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley cut their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Barclays decreased their target price on shares of 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. Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and an average price target of $97.13.

American Electric Power Trading Down 0.2 %

AEP opened at $92.71 on Monday. The stock has a market cap of $49.33 billion, a PE ratio of 18.58, a PEG ratio of 2.70 and a beta of 0.55. The business has a 50 day moving average of $97.50 and a 200-day moving average of $96.17. American Electric Power has a 52 week low of $75.22 and a 52 week 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.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.93 dividend. The ex-dividend date was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.01%. American Electric Power’s dividend payout ratio is currently 74.55%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in American Electric Power in the third quarter worth about $589,000. Sfmg LLC purchased a new position in American Electric Power in the 3rd quarter worth approximately $221,000. World Investment Advisors LLC lifted its position in American Electric Power by 127.8% in the 3rd quarter. World Investment Advisors LLC now owns 5,539 shares of the company’s stock valued at $568,000 after acquiring an additional 3,108 shares in the last quarter. Tudor Financial Inc. purchased a new stake in American Electric Power during the 3rd quarter valued at $1,331,000. Finally, Chelsea Counsel Co. increased its holdings in shares of American Electric Power by 46.1% in the 3rd quarter. Chelsea Counsel Co. now owns 1,110 shares of the company’s stock worth $114,000 after purchasing an additional 350 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

About American Electric Power

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.