Thoroughbred Financial Services LLC Has $267,000 Position in The AES Co. (NYSE:AES)

Thoroughbred Financial Services LLC trimmed its stake in shares of The AES Co. (NYSE:AES) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,771 shares of the utilities provider’s stock after selling 1,206 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in AES were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trexquant Investment LP lifted its position in shares of AES by 67.7% in the 4th quarter. Trexquant Investment LP now owns 1,416,727 shares of the utilities provider’s stock worth $18,233,000 after purchasing an additional 571,947 shares during the period. Geode Capital Management LLC lifted its holdings in AES by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 16,895,678 shares of the utilities provider’s stock valued at $216,862,000 after buying an additional 381,761 shares during the period. Cannell & Spears LLC bought a new stake in AES during the fourth quarter valued at $322,000. Alliancebernstein L.P. grew its holdings in AES by 20.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,439,334 shares of the utilities provider’s stock worth $18,524,000 after acquiring an additional 242,942 shares during the period. Finally, SCP Investment LP raised its position in shares of AES by 384.7% in the 4th quarter. SCP Investment LP now owns 139,600 shares of the utilities provider’s stock worth $1,797,000 after acquiring an additional 110,800 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 $10.77 on Monday. 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’s 50-day simple moving average is $11.39 and its 200 day simple moving average is $13.56. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.82 and a beta of 0.81. The AES Co. has a fifty-two week low of $9.88 and a fifty-two week high of $22.21.

AES (NYSE:AES) last announced its earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.20. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.07 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. During the same quarter in the previous year, the firm earned $0.73 earnings per share. As a group, research analysts anticipate that The AES Co. will post 1.93 earnings per share for the current fiscal year.

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 given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date is Thursday, May 1st. AES’s payout ratio is currently 29.54%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lowered 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. Susquehanna dropped their target price on shares of AES from $16.00 to $15.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. HSBC initiated coverage on shares of AES in a report on Friday, December 13th. They issued a “buy” rating and a $17.00 price target for the company. Seaport Res Ptn cut shares of AES from a “hold” rating to a “strong sell” rating in a research report on Monday, March 3rd. Finally, Bank of America raised AES from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.29.

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.