American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 19.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,129,667 shares of the company's stock after buying an additional 181,345 shares during the period. Jennison Associates LLC owned 0.21% of American Electric Power worth $115,904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Pathway Financial Advisers LLC grew its holdings in shares of American Electric Power by 10,177.1% in the third 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 during the period. Zimmer Partners LP raised its position in shares of American Electric Power by 578.2% during the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company's stock valued at $83,948,000 after buying an additional 831,235 shares during the period. Lazard Asset Management LLC lifted its holdings in American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company's stock valued at $739,303,000 after acquiring an additional 776,965 shares during the last quarter. Raymond James & Associates increased its stake in American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company's stock worth $161,877,000 after acquiring an additional 623,789 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in American Electric Power by 1,140.5% in the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company's stock valued at $40,070,000 after purchasing an additional 419,870 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEP has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a "hold" rating and a $107.00 price objective for the company. BMO Capital Markets reduced their price target on shares of American Electric Power from $111.00 to $104.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on shares of 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. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised their price target on American Electric Power from $102.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus target price of $98.27.

American Electric Power Stock Performance

Shares of AEP opened at $96.80 on Thursday. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The stock has a market capitalization of $51.51 billion, a PE ratio of 19.40, a PEG ratio of 2.79 and a beta of 0.55. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The stock has a 50-day simple moving average of $99.34 and a 200-day simple moving average of $95.39.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.84%. This is an increase from American Electric Power's previous quarterly dividend of $0.88. American Electric Power's payout ratio is currently 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.