American Electric Power Company, Inc. (NASDAQ:AEP - Get Free Report) saw a significant increase in short interest in 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 trading volume, of 2,800,000 shares, the short-interest ratio is presently 3.6 days.
American Electric Power Price Performance
AEP stock traded up $0.46 during trading on Friday, reaching $97.28. 1,930,571 shares of the company were exchanged, compared to its average volume of 3,309,881. 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 stock's 50 day moving average price is $94.51 and its 200 day moving average price is $96.77. American Electric Power has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a market cap of $51.77 billion, a P/E ratio of 19.50, a PEG ratio of 2.58 and a beta of 0.56.
American Electric Power Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a dividend of $0.93 per share. This is a positive change from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.82%. American Electric Power's payout ratio is 74.55%.
Hedge Funds Weigh In On American Electric Power
Hedge funds have recently bought and sold shares of the company. E Fund Management Co. Ltd. increased its holdings in American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company's stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC increased its stake in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company's stock worth $300,000 after purchasing an additional 106 shares in the last quarter. PSI Advisors LLC raised its position in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company's stock worth $103,000 after purchasing an additional 107 shares during the last quarter. Garrison Asset Management LLC lifted its stake in American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company's stock valued at $1,950,000 after buying an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY grew its holdings in American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company's stock valued at $516,000 after buying an additional 110 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently commented on AEP. Evercore ISI cut their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a "hold" rating and a $107.00 price objective on the stock. Morgan Stanley decreased their target price 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. Bank of America upgraded American Electric Power from an "underperform" rating to a "buy" rating and boosted their price target for the company from $98.00 to $104.00 in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on American Electric Power from $104.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $98.00.
Read Our Latest Stock Report on American Electric Power
About American Electric Power
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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.
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