CIBC Asset Management Inc Purchases 4,774 Shares of The AES Co. (NYSE:AES)

CIBC Asset Management Inc lifted its position in shares of The AES Co. (NYSE:AES) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,295 shares of the utilities provider’s stock after buying an additional 4,774 shares during the period. CIBC Asset Management Inc’s holdings in AES were worth $1,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AES. State Street Corp raised its position in AES by 18.2% in the 3rd quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock worth $775,354,000 after purchasing an additional 5,960,546 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of AES by 169.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock valued at $43,002,000 after buying an additional 1,348,195 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of AES by 30.3% in the 3rd quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock valued at $77,000,000 after acquiring an additional 892,500 shares during the last quarter. Bridgewater Associates LP purchased a new stake in AES during the 3rd quarter valued at about $17,390,000. Finally, M&G PLC grew its position in AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock worth $130,235,000 after acquiring an additional 732,457 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Performance

AES stock opened at $10.56 on Friday. The AES Co. has a fifty-two week low of $9.88 and a fifty-two week high of $22.21. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.80 and a beta of 0.99. The stock’s 50 day simple moving average is $11.70 and its two-hundred day simple moving average is $14.75. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a $0.176 dividend. This represents a $0.70 annualized dividend and a yield of 6.67%. AES’s payout ratio is 48.61%.

Analyst Ratings Changes

Several brokerages have weighed in on AES. Barclays lowered their price objective 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 dropped their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Hsbc Global Res raised shares of AES to a “strong-buy” rating in a research note on Friday, December 13th. HSBC started coverage on AES in a research note on Friday, December 13th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Bank of America started coverage on AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.80.

AES Company 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.