Avidian Wealth Enterprises LLC Purchases 3,027 Shares of The AES Co. (NYSE:AES)

Avidian Wealth Enterprises LLC boosted its position in The AES Co. (NYSE:AES) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,171 shares of the utilities provider’s stock after acquiring an additional 3,027 shares during the period. Avidian Wealth Enterprises LLC’s holdings in AES were worth $195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in shares of AES during the 3rd quarter worth approximately $28,000. Cromwell Holdings LLC lifted its stake 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 valued at $35,000 after purchasing an additional 640 shares during the period. Brooklyn Investment Group bought a new position in shares of AES in the 3rd quarter worth $63,000. Blue Trust Inc. grew its stake in shares of AES by 69.3% during the third 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 during the period. Finally, Toth Financial Advisory Corp bought a new stake in AES in the fourth quarter valued at about $95,000. 93.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays decreased their target price on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Susquehanna lowered their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. HSBC initiated coverage on shares of AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 price target on the stock. Bank of America assumed coverage on AES in a research note on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective on the stock. Finally, Hsbc Global Res raised AES to a “strong-buy” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.80.

AES Stock Down 1.9 %

Shares of AES stock opened at $9.95 on Friday. 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 business’s 50 day simple moving average is $12.02 and its 200 day simple moving average is $14.99. The firm has a market cap of $7.07 billion, a PE ratio of 6.91, a P/E/G ratio of 0.84 and a beta of 0.99.

AES Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend was 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%.

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.