Truist Financial Corp Cuts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Truist Financial Corp reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 315,574 shares of the company’s stock after selling 15,343 shares during the quarter. Truist Financial Corp’s holdings in American Electric Power were worth $29,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power during the third quarter valued at about $33,000. Newbridge Financial Services Group Inc. purchased a new stake in American Electric Power during the fourth quarter valued at about $35,000. Reston Wealth Management LLC purchased a new stake in American Electric Power during the third quarter valued at about $48,000. Finally, Decker Retirement Planning Inc. purchased a new stake in American Electric Power during the fourth quarter valued at about $49,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.4 %

AEP stock opened at $102.20 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company’s 50 day moving average is $95.84 and its 200 day moving average is $97.96. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a net margin of 13.48% and a return on equity of 11.41%. During the same period in the previous year, the business earned $1.23 EPS. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is currently 74.55%.

Analyst Ratings Changes

AEP has been the topic of several recent research reports. BMO Capital Markets dropped their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Evercore ISI dropped their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. UBS Group increased their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Bank of America raised shares of American Electric Power from an “underperform” rating to a “buy” rating and increased their price target for the stock from $98.00 to $104.00 in a report on Monday, January 13th. Finally, Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.00.

American Electric Power 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.