Dan Neiman, Portfolio Manager and Partner of Neiman Funds Management LLC, has held American Electric Power Company Inc (NYSE:AEP) since 2011. American Electric continues to increase dividends over time, which is one of the things Neiman looks at in his funds.
“Back when we first bought the stock the quarterly dividend was $0.46, $0.47 a share. Now it’s in the $0.53; $0.56 is their most recent dividend. Dividends have increased 22% since we bought the stock, which is a nice increase in dividends,” Neiman says.
Dan Neiman
Neiman adds that over that same five-year time frame the stock is up 55%, so he has seen a nice return on investment.
“Currently the yield is over 4%, so again, I like that stock, its yield. When you start comparing it to other utility companies, the debt is a little bit higher, but still manageable for a utility. Again, yield is good, p/e is relatively within the range that we’re looking for. So American Electric Power for me is one of those names that we’ve held for a quite some time, and I continue to hold it in the fund and add to it at times,” Neiman says.
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