American Electric Power Company Inc (NYSE:AEP) was the target of a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 7,310,000 shares, a growth of 15.5% from the November 14th total of 6,330,000 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 2,370,000 shares, the days-to-cover ratio is currently 3.1 days.
Institutional investors have recently modified their holdings of the company. Prestige Wealth Management Group LLC boosted its position in shares of American Electric Power by 195.0% in the third quarter. Prestige Wealth Management Group LLC now owns 410 shares of the utilities provider’s stock worth $38,000 after buying an additional 271 shares during the period. Tarbox Family Office Inc. boosted its position in shares of American Electric Power by 38.9% in the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock worth $38,000 after buying an additional 122 shares during the period. Kings Point Capital Management acquired a new stake in shares of American Electric Power in the second quarter worth $39,000. Venturi Wealth Management LLC acquired a new stake in shares of American Electric Power in the third quarter worth $43,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in American Electric Power by 259.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 503 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 363 shares during the last quarter. 73.83% of the stock is owned by institutional investors and hedge funds.
AEP has been the topic of a number of recent research reports. UBS Group lifted their target price on American Electric Power from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 20th. SunTrust Banks set a $102.00 target price on American Electric Power and gave the stock a “buy” rating in a report on Friday, October 25th. Wolfe Research set a $101.00 target price on American Electric Power and gave the stock a “buy” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on American Electric Power from $92.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $96.40.
Shares of American Electric Power stock opened at $91.14 on Friday. The stock has a market cap of $45.37 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 3.89 and a beta of 0.06. The business has a fifty day simple moving average of $91.68 and a 200-day simple moving average of $90.90. The company has a quick ratio of 0.36, a current ratio of 0.48 and a debt-to-equity ratio of 1.27. American Electric Power has a 12 month low of $72.25 and a 12 month high of $96.22.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, October 24th. The utilities provider reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.14. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $5.08 billion. American Electric Power had a return on equity of 11.09% and a net margin of 13.52%. During the same quarter last year, the firm posted $1.26 earnings per share. Analysts expect that American Electric Power will post 4.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, November 7th. This is a boost from American Electric Power’s previous quarterly dividend of $0.67. American Electric Power’s dividend payout ratio (DPR) is 70.89%.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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