8 Dividend Giants with Lowest Short Interest in 2024

4. American Electric Power Company, Inc. (NASDAQ:AEP)

Short % of Float as of September 22: 1.47%

American Electric Power Company, Inc. (NASDAQ:AEP) ranks fourth on our list of the best dividend giants with the lowest short interest. The American domestic electric utility company offers a wide range of energy services to its consumers. In the second quarter of 2024, the company reported revenue of $4.6 billion, reflecting a 2.7% increase compared to the same period the previous year. Its continued investments in a modern, cost-effective, and reliable energy infrastructure have benefited both its customers and communities, while also supporting its earnings. A strong performance during the first half of the year, along with effective management, has allowed AEP to maintain its 2024 earnings guidance.

American Electric Power Company, Inc. (NASDAQ:AEP) is seeing remarkable growth in sections of its service region, supported by a robust transmission system and a focus on economic development. In Q2 2024, commercial load rose by 12.4% year-over-year, mainly fueled by a 20%+ increase at its Transmission & Distribution companies as new data processing centers came online. Additionally, the company has secured customer commitments for more than 15 gigawatts of additional load by the end of the decade.

American Electric Power Company, Inc. (NASDAQ:AEP) holds a history of raising its dividends for 14 consecutive years, which makes it a reliable investment option for income investors. Its quarterly dividend currently sits at $0.88 per share for a dividend yield of 3.43%, as of September 22.

American Electric Power Company, Inc. (NASDAQ:AEP) was a part of 35 hedge fund portfolios at the end of Q2 2024, up from 28 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of $1.6 billion. GQG Partners owned the largest stake in the company in Q2.