State of Alaska Department of Revenue Lowers Holdings in The AES Co. (NYSE:AES)

State of Alaska Department of Revenue decreased its stake in shares of The AES Co. (NYSE:AES) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,063 shares of the utilities provider’s stock after selling 1,825 shares during the quarter. State of Alaska Department of Revenue’s holdings in AES were worth $1,043,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Millburn Ridgefield Corp purchased a new position in AES during the third quarter valued at $28,000. Cromwell Holdings LLC increased its holdings in shares of AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of AES in the 3rd quarter worth $63,000. Blue Trust Inc. increased its holdings in shares of AES by 69.3% in the 3rd quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of AES in the 3rd quarter worth $74,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Performance

NYSE:AES opened at $10.14 on Friday. The stock has a 50-day simple moving average of $12.08 and a two-hundred day simple moving average of $15.04. The AES Co. has a 52-week low of $9.90 and a 52-week high of $22.21. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The firm has a market capitalization of $7.21 billion, a PE ratio of 7.04, a P/E/G ratio of 0.84 and a beta of 0.99.

AES Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a yield of 6.94%. The ex-dividend date is Friday, January 31st. This is a positive change from AES’s previous quarterly dividend of $0.17. AES’s payout ratio is currently 48.61%.

Wall Street Analysts Forecast Growth

AES has been the subject of a number of research analyst reports. Susquehanna reduced their target price on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. HSBC initiated coverage on AES in a report on Friday, December 13th. They issued a “buy” rating and a $17.00 target price for the company. Barclays reduced their target price on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Mizuho cut their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Bank of America began coverage on AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

About AES

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.