Jennison Associates LLC Reduces Position in American Electric Power Company, Inc. $AEP

Jennison Associates LLC lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,085 shares of the company’s stock after selling 10,643 shares during the period. Jennison Associates LLC’s holdings in American Electric Power were worth $64,634,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AEP. Soroban Capital Partners LP grew its holdings in shares of American Electric Power by 176.3% in the second quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock valued at $415,526,000 after purchasing an additional 2,555,415 shares during the period. Assenagon Asset Management S.A. grew its position in American Electric Power by 357.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,957,491 shares of the company’s stock valued at $225,718,000 after acquiring an additional 1,529,662 shares in the last quarter. State Street Corp grew its holdings in shares of American Electric Power by 5.2% in the fourth quarter. State Street Corp now owns 30,437,776 shares of the company’s stock valued at $3,509,780,000 after purchasing an additional 1,514,865 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of American Electric Power by 118.2% in the third quarter. AQR Capital Management LLC now owns 2,585,605 shares of the company’s stock worth $286,692,000 after acquiring an additional 1,400,547 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in American Electric Power by 17.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,316,688 shares of the company’s stock worth $728,378,000 after purchasing an additional 937,346 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on shares of American Electric Power from $131.00 to $140.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Truist Financial boosted their price target on shares of American Electric Power from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upped their price objective on shares of American Electric Power from $129.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. TD Cowen raised their price objective on American Electric Power from $141.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Thirteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.52.

American Electric Power Price Performance

AEP opened at $132.14 on Monday. American Electric Power Company, Inc. has a 52 week low of $105.70 and a 52 week high of $140.58. The company has a quick ratio of 0.39, a current ratio of 0.53 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $131.28 and a two-hundred day moving average price of $128.71. The company has a market cap of $71.90 billion, a PE ratio of 19.40, a P/E/G ratio of 2.42 and a beta of 0.52.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.07. American Electric Power had a net margin of 16.29% and a return on equity of 10.21%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same period last year, the firm posted $1.54 EPS. American Electric Power’s quarterly revenue was up 10.2% on a year-over-year basis. American Electric Power has set its FY 2026 guidance at 6.120-6.420 EPS. As a group, research analysts anticipate that American Electric Power Company, Inc. will post 6.35 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 8th. American Electric Power’s dividend payout ratio (DPR) is currently 55.80%.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.