Short Interest in American Electric Power Company, Inc. (NASDAQ:AEP) Rises By 8.1%

American Electric Power Company, Inc. (NASDAQ:AEP) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 7,840,000 shares, a growth of 8.1% from the August 15th total of 7,250,000 shares. Based on an average daily trading volume, of 2,770,000 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On American Electric Power

Several hedge funds and other institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its position in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of American Electric Power during the fourth quarter valued at approximately $26,000. Denali Advisors LLC bought a new position in American Electric Power in the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in American Electric Power in the 1st quarter valued at approximately $27,000. Finally, YHB Investment Advisors Inc. acquired a new position in American Electric Power during the 1st quarter worth $29,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Down 0.7 %

Shares of NASDAQ AEP opened at $104.21 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock’s 50 day moving average price is $98.07 and its two-hundred day moving average price is $90.67. American Electric Power has a 52-week low of $69.38 and a 52-week high of $105.18. The stock has a market capitalization of $54.93 billion, a P/E ratio of 19.33, a PEG ratio of 2.95 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that American Electric Power will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

Analyst Upgrades and Downgrades

AEP has been the topic of several research reports. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and increased their target price for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Morgan Stanley boosted their target price on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their price target on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Scotiabank boosted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.15.

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.