Truist Financial Corp Has $29.11 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Truist Financial Corp trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 315,574 shares of the company's stock after selling 15,343 shares during the period. Truist Financial Corp owned approximately 0.06% of American Electric Power worth $29,105,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC increased its stake in American Electric Power by 10,177.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company's stock valued at $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC increased its stake in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company's stock valued at $385,079,000 after purchasing an additional 1,962,125 shares in the last quarter. State Street Corp increased its stake in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company's stock valued at $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. FMR LLC increased its stake in American Electric Power by 18.8% in the third quarter. FMR LLC now owns 6,866,952 shares of the company's stock valued at $704,549,000 after purchasing an additional 1,087,163 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in American Electric Power in the third quarter valued at approximately $80,207,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

AEP stock traded up $0.98 during mid-day trading on Friday, hitting $105.33. The stock had a trading volume of 4,001,955 shares, compared to its average volume of 3,314,018. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $105.73. The firm has a market capitalization of $56.16 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.91 and a beta of 0.58. The firm has a fifty day simple moving average of $96.26 and a 200 day simple moving average of $98.04.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, hitting analysts' consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the business posted $1.23 EPS. As a group, research analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.53%. American Electric Power's payout ratio is presently 66.43%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of American Electric Power from $109.00 to $104.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Bank of America raised shares of American Electric Power from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Barclays lowered their price objective on shares of American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 26th. BMO Capital Markets lowered their price objective on shares of American Electric Power from $108.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Finally, UBS Group increased their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.00.

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