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

Simmons Bank decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 60.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,036 shares of the company's stock after selling 42,970 shares during the period. Simmons Bank's holdings in American Electric Power were worth $3,063,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. EQ Wealth Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at about $25,000. Bank of New Hampshire bought a new position in American Electric Power during the 1st quarter valued at about $28,000. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at about $28,000. Finally, Fairway Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at about $32,000. Institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

AEP has been the topic of several recent research reports. Morgan Stanley lowered their price objective on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Raymond James Financial initiated coverage on shares of American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Guggenheim increased their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Citigroup increased their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $108.31.

Insiders Place Their Bets

In related news, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president directly owned 9,658 shares in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,314 shares of company stock valued at $3,508,293. Company insiders own 0.07% of the company's stock.

American Electric Power Price Performance

AEP stock traded up $0.31 during mid-day trading on Monday, reaching $104.17. 2,703,877 shares of the company's stock were exchanged, compared to its average volume of 3,221,665. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 12-month low of $86.83 and a 12-month high of $110.48. The stock's 50 day moving average is $103.24 and its 200 day moving average is $102.04. The company has a market cap of $55.65 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. On average, research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio is presently 71.68%.

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.