Allstate Corp Invests $268,000 in The AES Co. (NYSE:AES)

Allstate Corp acquired a new position in shares of The AES Co. (NYSE:AES - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 20,814 shares of the utilities provider's stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp purchased a new position in shares of AES during the 3rd quarter worth $28,000. SRS Capital Advisors Inc. raised its stake in AES by 190.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider's stock worth $31,000 after purchasing an additional 1,581 shares during the period. WR Wealth Planners LLC boosted its holdings in AES by 93.3% in the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 1,369 shares during the last quarter. AlphaQuest LLC grew its stake in shares of AES by 18,047.1% in the 4th quarter. AlphaQuest LLC now owns 6,170 shares of the utilities provider's stock valued at $79,000 after buying an additional 6,136 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of AES by 95.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,295 shares of the utilities provider's stock valued at $81,000 after buying an additional 3,080 shares during the period. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Stock Down 9.5 %

AES traded down $1.14 during trading hours on Friday, hitting $10.77. 19,554,240 shares of the company's stock were exchanged, compared to its average volume of 11,091,813. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The AES Co. has a 12-month low of $9.88 and a 12-month high of $22.21. The firm has a market cap of $7.66 billion, a P/E ratio of 7.48, a price-to-earnings-growth ratio of 0.82 and a beta of 0.81. The firm has a 50 day moving average of $11.39 and a 200 day moving average of $13.64.

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AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.20. AES had a return on equity of 27.30% and a net margin of 8.34%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter last year, the company earned $0.73 EPS. Analysts predict that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.176 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.54%. AES's payout ratio is 29.54%.

Analyst Ratings Changes

AES has been the subject of several recent analyst reports. Barclays cut their target price on AES from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Susquehanna cut their price objective on AES from $16.00 to $15.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Hsbc Global Res raised shares of AES to a "strong-buy" rating in a research report on Friday, December 13th. Seaport Res Ptn cut shares of AES from a "hold" rating to a "strong sell" rating in a research report on Monday, March 3rd. Finally, Mizuho decreased their price objective on shares of AES from $16.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $16.29.

AES Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.