Ameriprise Financial Inc. Raises Stock Position in The AES Co. (NYSE:AES)

by · The Markets Daily

Ameriprise Financial Inc. increased its position in The AES Co. (NYSE:AES – Free Report) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,571,119 shares of the utilities provider’s stock after purchasing an additional 7,519,129 shares during the quarter. Ameriprise Financial Inc. owned approximately 4.02% of AES worth $367,499,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. grew its stake in shares of AES by 190.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 1,581 shares during the last quarter. Optiver Holding B.V. grew its position in AES by 79.5% during the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,201 shares during the period. WR Wealth Planners LLC raised its stake in shares of AES by 93.3% during the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock valued at $37,000 after buying an additional 1,369 shares during the last quarter. Covestor Ltd lifted its holdings in shares of AES by 601.5% in the 4th quarter. Covestor Ltd now owns 5,745 shares of the utilities provider’s stock valued at $74,000 after buying an additional 4,926 shares during the period. Finally, AlphaQuest LLC boosted its stake 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 worth $79,000 after buying an additional 6,136 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AES has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on AES from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $11.00 to $13.00 in a report on Tuesday, March 4th. Barclays cut their price objective on shares of AES from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Seaport Res Ptn lowered shares of AES from a “hold” rating to a “strong sell” rating in a research note on Monday, March 3rd. Finally, Mizuho lowered their price target on AES from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.71.

Read Our Latest Analysis on AES

AES Stock Up 2.4 %

Shares of AES opened at $10.19 on Monday. The stock has a 50 day moving average price of $11.24 and a 200 day moving average price of $12.30. 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 stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 0.82 and a beta of 0.94. The AES Co. has a one year low of $9.57 and a one year high of $22.21.

AES (NYSE:AES – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.10). The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.13 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Equities research analysts forecast that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The business 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 dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 6.91%. AES’s payout ratio is 38.04%.

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.

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