Private Advisor Group LLC Has $503,000 Position in The AES Co. (NYSE:AES)

Private Advisor Group LLC increased its position in shares of The AES Co. (NYSE:AES) by 118.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,103 shares of the utilities provider’s stock after purchasing an additional 21,168 shares during the period. Private Advisor Group LLC’s holdings in AES were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in AES by 10.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 23,253 shares of the utilities provider’s stock valued at $299,000 after acquiring an additional 2,204 shares in the last quarter. Kestra Investment Management LLC acquired a new position in AES in the 4th quarter valued at $95,000. Atria Wealth Solutions Inc. acquired a new position in shares of AES during the 4th quarter worth $1,502,000. Empower Advisory Group LLC raised its holdings in shares of AES by 12.5% during the 4th quarter. Empower Advisory Group LLC now owns 3,961,827 shares of the utilities provider’s stock worth $50,989,000 after buying an additional 439,493 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of AES by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 109,295 shares of the utilities provider’s stock worth $1,407,000 after buying an additional 4,774 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Price Performance

Shares of NYSE AES opened at $11.18 on Tuesday. The stock has a fifty day simple moving average of $11.51 and a two-hundred day simple moving average of $14.52. The AES Co. has a 1-year low of $9.88 and a 1-year high of $22.21. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the company earned $0.73 earnings per share. Analysts anticipate that The AES Co. will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.176 dividend. The ex-dividend date is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.30%. AES’s dividend payout ratio (DPR) is presently 48.61%.

Analysts Set New Price Targets

A number of research firms have recently commented on AES. Barclays lowered their price target on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Susquehanna lowered their price target on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Mizuho lowered their price target on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Hsbc Global Res raised AES to a “strong-buy” rating in a report on Friday, December 13th. Finally, Bank of America started coverage on AES in a report on Monday, November 25th. They set an “underperform” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.