Sound Shore Management Inc. CT Takes Position in The AES Co. (NYSE:AES)

Sound Shore Management Inc. CT purchased a new stake in shares of The AES Co. (NYSE:AES - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,367,768 shares of the utilities provider's stock, valued at approximately $69,083,000. AES comprises about 2.3% of Sound Shore Management Inc. CT's investment portfolio, making the stock its 25th biggest position. Sound Shore Management Inc. CT owned approximately 0.75% of AES at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp acquired a new position in shares of AES in the third quarter valued at approximately $28,000. SRS Capital Advisors Inc. grew its holdings in AES by 190.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider's stock valued at $31,000 after buying an additional 1,581 shares in the last quarter. WR Wealth Planners LLC increased its position in AES by 93.3% during the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider's stock worth $37,000 after buying an additional 1,369 shares during the period. Brooklyn Investment Group acquired a new stake in shares of AES during the third quarter worth $63,000. Finally, AlphaQuest LLC boosted its position in shares of AES by 18,047.1% in the fourth quarter. AlphaQuest LLC now owns 6,170 shares of the utilities provider's stock valued at $79,000 after acquiring an additional 6,136 shares during the period. 93.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AES. Barclays dropped their price objective on shares of AES from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Mizuho cut their price target on AES from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Susquehanna dropped their price objective on AES from $16.00 to $15.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. Bank of America raised AES from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $11.00 to $13.00 in a report on Tuesday, March 4th. Finally, HSBC started coverage on AES in a research note on Friday, December 13th. They issued a "buy" rating and a $17.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AES has a consensus rating of "Moderate Buy" and a consensus price target of $16.63.

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AES Trading Down 0.1 %

Shares of NYSE:AES traded down $0.02 during mid-day trading on Friday, reaching $12.42. 11,081,428 shares of the company's stock were exchanged, compared to its average volume of 10,994,778. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.82 and a beta of 0.94. The AES Co. has a twelve month low of $9.88 and a twelve month high of $22.21. The business's fifty day moving average price is $11.35 and its 200-day moving average price is $13.85. 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 announced its 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 return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the business earned $0.73 EPS. On average, research analysts predict that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given 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 5.67%. AES's dividend payout ratio (DPR) is currently 29.54%.

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.