American Electric Power Company, Inc. (NASDAQ:AEP) Short Interest Update

American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 6,760,000 shares, a decline of 23.8% from the March 15th total of 8,870,000 shares. Based on an average daily volume of 3,330,000 shares, the days-to-cover ratio is currently 2.0 days.

A number of brokerages have recently weighed in on AEP. Mizuho lifted their price objective on American Electric Power from $94.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 29th. Royal Bank of Canada boosted their target price on American Electric Power from $101.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, March 7th. Wells Fargo & Company raised American Electric Power from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $93.00 to $101.00 in a research note on Monday, February 28th. Seaport Res Ptn cut American Electric Power from a “buy” rating to a “neutral” rating in a research note on Monday, March 14th. Finally, StockNews.com started coverage on American Electric Power in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, American Electric Power has an average rating of “Buy” and a consensus price target of $102.48.

In other news, insider Jospeh M. Buonaiuto sold 5,200 shares of American Electric Power stock in a transaction on Friday, March 4th. The stock was sold at an average price of $95.75, for a total value of $497,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 2,699 shares of American Electric Power stock in a transaction on Monday, April 4th. The shares were sold at an average price of $100.85, for a total value of $272,194.15. Following the completion of the sale, the executive vice president now directly owns 16,302 shares of the company’s stock, valued at $1,644,056.70. The disclosure for this sale can be found here. Insiders sold 32,562 shares of company stock worth $3,040,061 in the last 90 days. Company insiders own 0.12% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEP. Industrial Alliance Investment Management Inc. acquired a new stake in American Electric Power during the 4th quarter valued at $26,000. US Asset Management LLC purchased a new position in shares of American Electric Power during the 1st quarter worth $28,000. Arlington Partners LLC purchased a new position in shares of American Electric Power in the 4th quarter worth $29,000. Covington Capital Management purchased a new position in shares of American Electric Power in the 4th quarter worth $35,000. Finally, Rather & Kittrell Inc. purchased a new position in shares of American Electric Power in the 4th quarter worth $38,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

Shares of NASDAQ AEP opened at $102.04 on Monday. The company has a market capitalization of $51.48 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 3.54 and a beta of 0.35. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.63 and a quick ratio of 0.55. The business has a 50-day moving average of $94.93 and a two-hundred day moving average of $89.19. American Electric Power has a 1 year low of $80.22 and a 1 year high of $104.81.

American Electric Power (NASDAQ:AEPGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.94 billion. American Electric Power had a return on equity of 10.78% and a net margin of 14.80%. American Electric Power’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities research analysts expect that American Electric Power will post 4.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Shareholders of record on Thursday, February 10th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Wednesday, February 9th. American Electric Power’s payout ratio is 62.65%.

About American Electric Power (Get Rating)

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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