Jennison Associates LLC Sells 184,405 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Jennison Associates LLC lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 16.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 945,262 shares of the company’s stock after selling 184,405 shares during the quarter. Jennison Associates LLC owned about 0.18% of American Electric Power worth $87,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AEP. Czech National Bank raised its position in shares of American Electric Power by 7.9% in the third quarter. Czech National Bank now owns 108,398 shares of the company’s stock valued at $11,122,000 after purchasing an additional 7,950 shares during the period. GAMMA Investing LLC grew its holdings in American Electric Power by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 15,520 shares of the company’s stock worth $1,592,000 after acquiring an additional 2,994 shares during the last quarter. WealthBridge Capital Management LLC bought a new stake in American Electric Power in the third quarter valued at $246,000. Marathon Strategic Advisors LLC raised its position in shares of American Electric Power by 74.7% in the 3rd quarter. Marathon Strategic Advisors LLC now owns 7,027 shares of the company’s stock worth $721,000 after acquiring an additional 3,005 shares in the last quarter. Finally, Security National Bank purchased a new position in American Electric Power during the 3rd quarter valued at about $130,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective 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. UBS Group lifted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, BMO Capital Markets dropped their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Up 1.0 %

Shares of NASDAQ AEP opened at $99.36 on Tuesday. American Electric Power Company, Inc. has a 12-month low of $75.22 and a 12-month high of $105.18. The business’s fifty day simple moving average is $95.11 and its 200-day simple moving average is $97.60. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market cap of $52.87 billion, a P/E ratio of 19.91, a PEG ratio of 2.79 and a beta of 0.56.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is 74.55%.

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.