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

Simmons Bank grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,082 shares of the company’s stock after purchasing an additional 1,959 shares during the period. Simmons Bank’s holdings in American Electric Power were worth $7,190,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empower Advisory Group LLC lifted its position in American Electric Power by 4.2% during the third quarter. Empower Advisory Group LLC now owns 740,654 shares of the company’s stock valued at $75,991,000 after purchasing an additional 30,159 shares during the last quarter. Victory Capital Management Inc. increased its stake in American Electric Power by 22.8% during the third quarter. Victory Capital Management Inc. now owns 878,901 shares of the company’s stock worth $90,175,000 after acquiring an additional 163,297 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of American Electric Power in the 3rd quarter worth approximately $1,008,000. Prime Capital Investment Advisors LLC boosted its holdings in shares of American Electric Power by 1.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 29,990 shares of the company’s stock worth $3,077,000 after purchasing an additional 462 shares during the period. Finally, Savvy Advisors Inc. raised its holdings in American Electric Power by 6.9% during the 3rd quarter. Savvy Advisors Inc. now owns 4,284 shares of the company’s stock valued at $440,000 after buying an additional 277 shares during the period. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets decreased their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.27.

American Electric Power Stock Down 1.6 %

NASDAQ:AEP opened at $92.96 on Wednesday. The company’s 50-day simple moving average is $100.23 and its 200-day simple moving average is $95.10. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The stock has a market capitalization of $49.47 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.69 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 4.00%. American Electric Power’s dividend payout ratio is presently 74.55%.

American Electric Power 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.