Is American Electric Power Company, Inc. (AEP) Going to Burn These Hedge Funds?

Is American Electric Power Company, Inc. (NYSE:AEP) a buy here? Investors who are in the know are in an optimistic mood. The number of long hedge fund positions advanced by three lately.

American Electric Power Company, Inc. (NYSE:AEP)

Zacks reiterated their neutral rating on shares of American Electric Power Co. (NYSE:AEP) in a research report sent to investors on Wednesday morning, AnalystRatings.NET reports. The firm currently has a $50.00 price target on the stock, according to WKRB.

Now, it’s important to take a peek at the latest action encompassing American Electric Power Company, Inc. (NYSE:AEP).

What does the smart money think about American Electric Power Company, Inc. (NYSE:AEP)?

At Q3′s end, a total of 32 of the hedge funds Insider Monkey tracks were long in this stock, a change of 10 percent from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their holdings considerably.

Of the funds tracked by Insider Monkey, Millennium Management, managed by Israel Englander, holds the biggest position in American Electric Power Company, Inc. (NYSE:AEP). Millennium Management has a $192.4 million position in the stock, comprising 0.6 percent of its 13F portfolio. Sitting at the No. 2 spot is Millennium Management Subsidiary of Decade Capital Management, with a $116.6 million position; 6.7 percent of its 13F portfolio is allocated to the stock. Other hedgies with similar optimism consist of Phill Gross and Robert Atchinson’s Adage Capital Management, John A. Levin’s Levin Capital Strategies and David Harding’s Winton Capital Management.

With a general bullishness amongst the heavyweights, key money managers have jumped into American Electric Power Company, Inc. (NYSE:AEP) headfirst. Green Arrow Capital Management, managed by Millennium Management Subsidiary, assembled the biggest position in American Electric Power Company, Inc. (NYSE:AEP). Green Arrow Capital Management had 14 million invested in the company at the end of the quarter. Peter Muller’s PDT Partners also initiated a $12.5 million position during the quarter. The other funds with brand new AEP positions are Vince Maddi and Shawn Brennan’s SIR Capital Management, Paul Jasinkiewicz’s Jasinkiewicz Capital Management, and Mario Gabelli’s GAMCO Investors.

What do corporate executives and insiders think about American Electric Power Company, Inc. (NYSE:AEP)?

Insider purchases made by high-level executives is best served when the company in question has experienced transactions within the past half-year. Over the last six-month time frame, American Electric Power Company, Inc. (NYSE:AEP) has seen zero unique insiders buying, and four insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to American Electric Power Company, Inc. (NYSE:AEP). These stocks are Korea Electric Power Corporation (ADR) (NYSE:KEP), FirstEnergy Corp. (NYSE:FE), Consolidated Edison, Inc. (NYSE:ED), PPL Corporation (NYSE:PPL), and PG&E Corporation (NYSE:PCG). This group of stocks are in the electric utilities industry and their market caps match AEP’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Korea Electric Power Corporation (ADR) (NYSE:KEP) 8 0 0
FirstEnergy Corp. (NYSE:FE) 17 0 2
Consolidated Edison, Inc. (NYSE:ED) 16 1 2
PPL Corporation (NYSE:PPL) 24 0 1
PG&E Corporation (NYSE:PCG) 23 0 1

American Electric Power Company, Inc. was the most widely held electric utilities industry equity among the hedge funds Insider Monkey tracks at the end of Q3.


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