Heartland Bank & Trust Co Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Heartland Bank & Trust Co lowered its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,187 shares of the company’s stock after selling 132 shares during the quarter. Heartland Bank & Trust Co’s holdings in American Electric Power were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. State Street Corp raised its position in American Electric Power by 4.3% in the 3rd 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. Geode Capital Management LLC increased its stake in shares of American Electric Power by 2.9% during the third quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after buying an additional 352,588 shares during the period. FMR LLC raised its holdings 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 acquiring an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after acquiring an additional 1,962,125 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AEP. BMO Capital Markets decreased 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. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and raised their target price for the stock from $98.00 to $104.00 in a research report on Monday, January 13th. Barclays lowered their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Finally, 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 on the stock in a report on Thursday, November 7th. 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 company’s stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Up 0.7 %

NASDAQ AEP opened at $98.18 on Monday. The firm’s fifty day moving average is $94.87 and its two-hundred day moving average is $97.32. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm has a market cap of $52.24 billion, a PE ratio of 19.68, a P/E/G ratio of 2.77 and a beta of 0.56.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.79%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 74.55%.

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.