Simmons Bank boosted its holdings in shares of American Electric Power Company, Inc. (NYSE:AEP) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,959 shares of the utilities provider’s stock after purchasing an additional 365 shares during the quarter. Simmons Bank’s holdings in American Electric Power were worth $2,359,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Ledyard National Bank increased its holdings in shares of American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $105,000. Chicago Partners Investment Group LLC increased its holdings in shares of American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 5 shares during the last quarter. Smithfield Trust Co. increased its holdings in shares of American Electric Power by 8.1% in the second quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 125 shares during the last quarter. Finally, Zions Bancorporation increased its holdings in shares of American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

AEP has been the subject of several recent research reports. BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Morgan Stanley reissued an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $72.89.

American Electric Power Company, Inc. (NYSE AEP) traded up 0.06% on Friday, reaching $71.53. The company had a trading volume of 1,813,636 shares. The stock’s 50-day moving average price is $72.43 and its 200 day moving average price is $70.19. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $74.59. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 61.56 and a beta of 0.28.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.07). The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, equities analysts anticipate that American Electric Power Company, Inc. will post $3.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.30%. American Electric Power’s payout ratio is 203.45%.

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American Electric Power Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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