Cannell & Spears LLC bought a new stake in shares of The AES Co. (NYSE:AES - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 25,000 shares of the utilities provider's stock, valued at approximately $322,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in AES. State Street Corp grew its position in shares of AES by 18.2% during the 3rd quarter. State Street Corp now owns 38,651,752 shares of the utilities provider's stock valued at $775,354,000 after buying an additional 5,960,546 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AES by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider's stock worth $330,125,000 after purchasing an additional 181,975 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in AES by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider's stock worth $88,536,000 after buying an additional 185,020 shares during the last quarter. Sound Shore Management Inc. CT acquired a new stake in AES in the fourth quarter worth $69,083,000. Finally, Bank of New York Mellon Corp lifted its stake in AES by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,756,831 shares of the utilities provider's stock valued at $61,220,000 after buying an additional 249,486 shares during the last quarter. Institutional investors own 93.13% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on AES. HSBC started coverage on shares of AES in a report on Friday, December 13th. They issued a "buy" rating and a $17.00 price objective on the stock. Susquehanna reduced 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 upgraded AES to a "strong-buy" rating in a research report on Friday, December 13th. Barclays reduced their price target on AES from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Finally, Seaport Res Ptn lowered AES from a "hold" rating to a "strong sell" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, AES has an average rating of "Moderate Buy" and a consensus target price of $16.29.
Read Our Latest Research Report on AES
AES Price Performance
Shares of AES traded down $1.14 during midday trading on Friday, reaching $10.77. The stock had a trading volume of 19,554,240 shares, compared to its average volume of 11,085,387. The firm's 50 day moving average price is $11.41 and its 200-day moving average price is $13.70. The AES Co. has a 52 week low of $9.88 and a 52 week high of $22.21. The company has a market capitalization of $7.66 billion, a P/E ratio of 7.48, a P/E/G ratio of 0.82 and a beta of 0.81. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80.
AES (NYSE:AES - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm had revenue of $2.96 billion for the quarter, compared to analysts' expectations of $3.07 billion. During the same period in the previous year, the business earned $0.73 earnings per share. On average, analysts forecast that The AES Co. will post 1.93 earnings per share for the current fiscal year.
AES Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a $0.176 dividend. The ex-dividend date is Thursday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 6.54%. AES's dividend payout ratio is currently 29.54%.
AES Company Profile
(
Free Report)
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.
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