Simmons Bank Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Simmons Bank lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,082 shares of the company’s stock after buying an additional 1,959 shares during the period. Simmons Bank’s holdings in American Electric Power were worth $7,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. E Fund Management Co. Ltd. raised its position in American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares during the last quarter. XML Financial LLC grew its position in shares of American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after buying an additional 106 shares during the last quarter. Garrison Asset Management LLC increased its stake in shares of American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after buying an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY raised its holdings in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AEP shares. Guggenheim increased their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, Barclays upped their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.27.

American Electric Power Trading Down 1.6 %

Shares of AEP stock opened at $92.96 on Wednesday. The company has a market cap of $49.47 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.69 and a beta of 0.55. 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 firm has a fifty day moving average price of $100.23 and a 200-day moving average price of $95.10. American Electric Power Company, Inc. has a 1 year low of $74.97 and a 1 year high of $105.18.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 4.00%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) 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.