5 Best Roth IRA Stocks to Buy and Hold for Long Term

In this article, we discuss 5 best Roth IRA stocks to buy and hold for long term. If you want to read our detailed analysis of retirement accounts and their rising demand, click 10 Best Roth IRA Stocks to Buy and Hold for Long Term. 

Number of Hedge Fund Holders: 33

American Electric Power Company, Inc. (NASDAQ:AEP) is an Ohio-based electric utility company that serves customers in 11 states.

American Electric Power Company, Inc. (NASDAQ:AEP) currently pays a quarterly dividend of $0.78 per share, raising it by 5% in October 2021. The company has been raising its dividends for the past 12 years and has been making dividend payments every quarter since 1910. Its operating EPS payout ratio stands at 63.3% and is expected to reach 63.8% in FY22. As of July 15, the stock’s dividend yield came in at 3.28%.

In May, Credit Suisse initiated its coverage of American Electric Power Company, Inc. (NASDAQ:AEP) with an Outperform rating and a $113 price target, appreciating the company’s operating portfolio and its growing assets.

At the end of March 2022, 33 hedge funds in Insider Monkey’s database owned stakes in American Electric Power Company, Inc. (NASDAQ:AEP), down from 34 a quarter earlier. The collective value of these stakes is nearly $430 million. Cliff Asness, Israel Englander, and Jim Simons were some of the company’s major stakeholders in Q1.

ClearBridge Investments mentioned American Electric Power Company, Inc. (NASDAQ:AEP) in its Q1 2022 investor letter. Here is what the firm has to say:

“About 5% of the portfolio is in transitioning power companies, typically migrating from coal to renewables. We have been active in encouraging these transitions and added a new position in American Electric Power (NASDAQ:AEP). AEP has the fastest planned renewable energy ramp in the U.S., with plans to both shrink coal and grow renewables by 50% each by 2030. This would drive an 80% emissions reduction, while supporting high single-digit earnings growth at a double-digit return.”