International Assets Investment Management LLC cut its holdings in The AES Co. (NYSE:AES - Free Report) by 82.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,890 shares of the utilities provider's stock after selling 114,828 shares during the quarter. International Assets Investment Management LLC's holdings in AES were worth $325,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of AES. Commonwealth Equity Services LLC boosted its holdings in shares of AES by 8.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 58,776 shares of the utilities provider's stock valued at $1,033,000 after purchasing an additional 4,799 shares during the last quarter. Private Advisor Group LLC grew its stake in AES by 169.5% during the second quarter. Private Advisor Group LLC now owns 42,201 shares of the utilities provider's stock worth $741,000 after buying an additional 26,543 shares during the period. Choreo LLC acquired a new stake in shares of AES in the second quarter worth $376,000. Daiwa Securities Group Inc. raised its stake in shares of AES by 18.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 77,496 shares of the utilities provider's stock valued at $1,362,000 after acquiring an additional 12,037 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of AES by 13.8% during the 2nd quarter. American Century Companies Inc. now owns 1,353,854 shares of the utilities provider's stock valued at $23,787,000 after acquiring an additional 164,606 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on AES. Barclays reduced their price objective on AES from $23.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Evercore ISI raised AES to a "strong-buy" rating in a research report on Wednesday, September 18th. Bank of America started coverage on shares of AES in a research note on Monday, November 25th. They set an "underperform" rating and a $11.00 price objective on the stock. Mizuho decreased their target price on shares of AES from $24.00 to $16.00 and set an "outperform" rating for the company in a research note on Thursday, November 21st. Finally, Hsbc Global Res raised shares of AES to a "strong-buy" rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AES currently has an average rating of "Moderate Buy" and a consensus target price of $19.30.
Check Out Our Latest Stock Analysis on AES
AES Stock Down 3.1 %
NYSE:AES opened at $12.02 on Monday. The stock has a 50-day simple moving average of $13.25 and a 200 day simple moving average of $16.11. The AES Co. has a one year low of $11.95 and a one year high of $22.21. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 0.71 and a beta of 1.00. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.
AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the company posted $0.60 EPS. The business's revenue was down 4.2% compared to the same quarter last year. Sell-side analysts predict that The AES Co. will post 1.95 EPS for the current fiscal year.
AES Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.176 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.70 dividend on an annualized basis and a yield of 5.86%. This is a boost from AES's previous quarterly dividend of $0.17. AES's dividend payout ratio (DPR) is currently 48.61%.
About AES
(
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.
Further Reading
Before you consider AES, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AES wasn't on the list.
While AES currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
