Bank & Trust Co Has $599,000 Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Bank & Trust Co trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,496 shares of the company’s stock after selling 284 shares during the quarter. Bank & Trust Co’s holdings in American Electric Power were worth $599,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC lifted its stake in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in American Electric Power during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power in the third quarter valued at approximately $33,000. Reston Wealth Management LLC acquired a new stake in shares of American Electric Power in the third quarter valued at approximately $48,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

AEP has been the topic of several research reports. UBS Group upped their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Finally, Morgan Stanley dropped their price objective 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.13.

American Electric Power Stock Up 0.8 %

NASDAQ AEP traded up $0.70 during mid-day trading on Tuesday, hitting $91.02. The company’s stock had a trading volume of 739,768 shares, compared to its average volume of 1,893,082. 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 simple moving average is $95.16 and its 200 day simple moving average is $96.56. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The firm has a market capitalization of $48.43 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 4.09%. American Electric Power’s payout ratio is presently 74.55%.

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.