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

American Electric Power Company, Inc. (NASDAQ:AEP - Get Free Report) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 7,450,000 shares, an increase of 7.0% from the October 15th total of 6,960,000 shares. Based on an average daily volume of 2,810,000 shares, the days-to-cover ratio is presently 2.7 days.

American Electric Power Trading Up 2.7 %

Shares of American Electric Power stock traded up $2.55 during trading on Friday, hitting $96.31. The stock had a trading volume of 5,558,396 shares, compared to its average volume of 3,271,694. American Electric Power has a 1 year low of $75.22 and a 1 year high of $105.18. The stock has a 50 day simple moving average of $99.74 and a 200 day simple moving average of $95.21. 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 market capitalization of $51.25 billion, a PE ratio of 19.30, a P/E/G ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. American Electric Power's dividend payout ratio (DPR) is presently 74.55%.

Analysts Set New Price Targets

AEP has been the topic of a number of research analyst reports. Bank of America raised their price target 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. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 20th. BMO Capital Markets decreased their price target on shares of American Electric Power from $111.00 to $104.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Finally, Evercore ISI lowered their price objective on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $98.27.

Hedge Funds Weigh In On American Electric Power

A number of large investors have recently made changes to their positions in AEP. O Shaughnessy Asset Management LLC increased its stake in American Electric Power by 60.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company's stock valued at $4,285,000 after buying an additional 18,726 shares during the period. OLD National Bancorp IN raised its holdings in shares of American Electric Power by 14.4% during the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company's stock worth $10,572,000 after acquiring an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC boosted its position in American Electric Power by 13.2% during the second quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company's stock valued at $3,730,000 after purchasing an additional 4,971 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company's stock valued at $40,070,000 after purchasing an additional 419,870 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in American Electric Power by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 263,368 shares of the company's stock valued at $22,697,000 after purchasing an additional 5,537 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

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.