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

Truist Financial Corp cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 405,601 shares of the company's stock after selling 79,719 shares during the quarter. Truist Financial Corp owned 0.08% of American Electric Power worth $32,943,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company's stock worth $2,150,657,000 after buying an additional 3,589,451 shares in the last quarter. Morgan Stanley boosted its position in American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company's stock worth $1,120,240,000 after purchasing an additional 587,145 shares during the last quarter. Invesco Ltd. grew its stake in American Electric Power by 13.7% in the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company's stock valued at $737,021,000 after purchasing an additional 1,181,706 shares during the period. Royal Bank of Canada increased its position in shares of American Electric Power by 5.1% during the 3rd quarter. Royal Bank of Canada now owns 7,714,823 shares of the company's stock valued at $580,308,000 after purchasing an additional 374,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of American Electric Power by 2.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,428,035 shares of the company's stock worth $333,077,000 after purchasing an additional 98,897 shares during the period. Institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Mizuho cut shares of American Electric Power from a "buy" rating to a "neutral" rating and set a $83.00 price target on the stock. in a report on Thursday, January 11th. Cfra reaffirmed a "buy" rating and set a $92.00 price target (up previously from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. BMO Capital Markets lifted their price objective on American Electric Power from $87.00 to $88.00 and gave the stock an "outperform" rating in a report on Tuesday, February 27th. Guggenheim downgraded shares of American Electric Power from a "buy" rating to a "neutral" rating and set a $81.00 price objective on the stock. in a report on Monday, January 22nd. Finally, UBS Group downgraded shares of American Electric Power from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $86.00 to $83.00 in a research note on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $86.08.

American Electric Power Price Performance

NASDAQ:AEP traded up $1.41 during mid-day trading on Monday, reaching $86.67. The stock had a trading volume of 2,852,778 shares, compared to its average volume of 3,747,014. The stock has a market capitalization of $45.64 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.01 and a beta of 0.51. The firm has a 50 day moving average price of $83.63 and a two-hundred day moving average price of $80.59. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.53. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $93.56.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). American Electric Power had a return on equity of 11.04% and a net margin of 11.64%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was down 6.1% on a year-over-year basis. As a group, analysts expect that American Electric Power Company, Inc. will post 5.54 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power's payout ratio is 82.82%.

About American Electric Power

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.