American Electric Power Company Inc (NYSE:AEP) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 7,880,000 shares, a growth of 16.2% from the August 30th total of 6,780,000 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is presently 3.5 days.
In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now owns 39,745 shares in the company, valued at $3,566,318.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles E. Zebula sold 1,216 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total transaction of $110,631.68. Following the completion of the transaction, the insider now owns 7,420 shares in the company, valued at approximately $675,071.60. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AEP. USS Investment Management Ltd purchased a new stake in American Electric Power in the first quarter worth about $31,189,000. Interactive Financial Advisors purchased a new stake in American Electric Power in the first quarter worth about $293,000. Riverhead Capital Management LLC grew its holdings in American Electric Power by 4.0% in the first quarter. Riverhead Capital Management LLC now owns 37,823 shares of the utilities provider’s stock worth $3,168,000 after purchasing an additional 1,468 shares during the period. Golden State Wealth Management LLC purchased a new stake in American Electric Power in the first quarter worth about $230,000. Finally, Mission Wealth Management LP grew its holdings in American Electric Power by 63.7% in the first quarter. Mission Wealth Management LP now owns 5,124 shares of the utilities provider’s stock worth $429,000 after purchasing an additional 1,993 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.
American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. American Electric Power’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities analysts expect that American Electric Power will post 4.13 earnings per share for the current year.
A number of equities analysts have issued reports on AEP shares. Bank of America restated a “buy” rating and issued a $98.00 price objective (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Mizuho boosted their price objective on shares of American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley boosted their price target on shares of American Electric Power from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. UBS Group boosted their price target on shares of American Electric Power from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, ValuEngine cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $93.91.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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