The AES Co. (NYSE:AES) Holdings Lowered by Norden Group LLC

Norden Group LLC lowered its stake in The AES Co. (NYSE:AES) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,473 shares of the utilities provider’s stock after selling 1,337 shares during the quarter. Norden Group LLC’s holdings in AES were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AES. FMR LLC raised its holdings in shares of AES by 38.6% during the third quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock valued at $559,689,000 after acquiring an additional 10,256,781 shares during the period. Electron Capital Partners LLC lifted its position in shares of AES by 9.3% in the third quarter. Electron Capital Partners LLC now owns 8,060,064 shares of the utilities provider’s stock worth $122,513,000 after purchasing an additional 686,719 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of AES by 24.2% during the third quarter. Invesco Ltd. now owns 7,611,339 shares of the utilities provider’s stock worth $115,692,000 after purchasing an additional 1,484,052 shares during the period. Northern Trust Corp increased its stake in AES by 0.5% in the 3rd quarter. Northern Trust Corp now owns 6,108,260 shares of the utilities provider’s stock valued at $92,846,000 after buying an additional 29,488 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of AES by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,728,296 shares of the utilities provider’s stock worth $87,070,000 after acquiring an additional 140,149 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $25.00 price target on shares of AES in a report on Monday, March 25th. Argus restated a “buy” rating and issued a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. UBS Group cut their price objective on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Barclays lowered their price target on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Mizuho started coverage on AES in a research report on Thursday, April 18th. They issued a “buy” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.13.

AES Stock Up 1.5 %

Shares of NYSE AES opened at $18.17 on Thursday. The business has a fifty day moving average of $16.58 and a two-hundred day moving average of $16.92. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.61 and a current ratio of 0.68. The AES Co. has a 52-week low of $11.43 and a 52-week high of $23.16. The stock has a market cap of $12.91 billion, a PE ratio of 55.05 and a beta of 1.08.

AES (NYSE:AES) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.36 billion. AES had a net margin of 2.12% and a return on equity of 38.76%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, equities research analysts expect that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Tuesday, April 30th. AES’s payout ratio is presently 209.10%.

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.