Jennison Associates LLC Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Jennison Associates LLC lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 945,262 shares of the company’s stock after selling 184,405 shares during the period. Jennison Associates LLC’s holdings in American Electric Power were worth $87,182,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in shares of American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of American Electric Power by 109.5% during the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after acquiring an additional 1,962,125 shares during the period. State Street Corp increased 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 acquiring an additional 1,114,954 shares in the last quarter. FMR LLC raised its holdings in American Electric Power by 18.8% during the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after purchasing an additional 1,087,163 shares during the last quarter. Finally, Zacks Investment Management bought a new position in shares of American Electric Power in the 3rd quarter worth $80,207,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.0 %

NASDAQ:AEP opened at $99.36 on Tuesday. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company’s 50 day moving average price is $95.11 and its 200-day moving average price is $97.60. The stock has a market cap of $52.87 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.79 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group boosted their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Barclays cut their price target on shares of 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. BMO Capital Markets cut their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $102.00 target price (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Evercore ISI cut their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.