Short Interest in American Electric Power Company, Inc. (NASDAQ:AEP) Increases By 131.4%

American Electric Power Company, Inc. (NASDAQ:AEP) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 24,600,000 shares, an increase of 131.4% from the March 15th total of 10,630,000 shares. Based on an average daily volume of 4,280,000 shares, the days-to-cover ratio is presently 5.7 days. Currently, 4.6% of the company’s stock are short sold.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $106.68 on Wednesday. The business’s 50 day moving average is $104.52 and its 200-day moving average is $99.37. The firm has a market cap of $56.93 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. American Electric Power has a 1-year low of $79.16 and a 1-year high of $110.48. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the firm posted $1.23 EPS. Equities research analysts predict that American Electric Power will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s payout ratio is presently 66.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AEP shares. Morgan Stanley boosted their price target on shares of American Electric Power from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. BMO Capital Markets increased their price target on American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Bank of America boosted their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Finally, Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $100.77.

Institutional Investors Weigh In On American Electric Power

A number of large investors have recently modified their holdings of AEP. Raymond James Financial Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at approximately $220,983,000. Lazard Asset Management LLC grew its holdings in American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company’s stock worth $591,791,000 after acquiring an additional 2,165,888 shares during the last quarter. GAMMA Investing LLC increased its holdings in American Electric Power by 13,499.5% in the first quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company’s stock valued at $234,954,000 after purchasing an additional 2,134,404 shares during the period. Cohen & Steers Inc. bought a new position in shares of American Electric Power during the fourth quarter worth about $121,605,000. Finally, Bank of America Corp DE boosted its stake in shares of American Electric Power by 27.5% in the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company’s stock valued at $472,270,000 after purchasing an additional 1,105,317 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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.