Bank & Trust Co Sells 284 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Bank & Trust Co trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 6,496 shares of the company’s stock after selling 284 shares during the period. Bank & Trust Co’s holdings in American Electric Power were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of American Electric Power by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 640,029 shares of the company’s stock valued at $65,667,000 after purchasing an additional 19,081 shares during the period. New England Asset Management Inc. purchased a new position in shares of American Electric Power in the third quarter worth about $3,404,000. ING Groep NV grew its position in American Electric Power by 244.3% during the 3rd quarter. ING Groep NV now owns 294,515 shares of the company’s stock worth $30,217,000 after acquiring an additional 208,974 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of American Electric Power during the third quarter valued at approximately $1,815,000. Finally, L & S Advisors Inc purchased a new position in shares of American Electric Power in the second quarter worth $2,398,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock traded up $0.70 during trading on Tuesday, hitting $91.02. 739,768 shares of the company’s stock traded hands, compared to its average volume of 1,893,082. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The business has a 50-day simple moving average of $95.16 and a 200-day simple moving average of $96.56. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The stock has a market capitalization of $48.43 billion, a P/E ratio of 18.24, a PEG ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.