Capital Group Private Client Services Inc. Cuts Stock Position in The AES Co. (NYSE:AES)

Capital Group Private Client Services Inc. trimmed its position in The AES Co. (NYSE:AES) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 980,427 shares of the utilities provider’s stock after selling 502,643 shares during the period. Capital Group Private Client Services Inc.’s holdings in AES were worth $12,618,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in AES during the fourth quarter worth about $4,809,000. NFJ Investment Group LLC boosted its stake in shares of AES by 16.4% in the fourth quarter. NFJ Investment Group LLC now owns 539,952 shares of the utilities provider’s stock valued at $6,949,000 after buying an additional 76,221 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in AES by 169.3% during the fourth quarter. Evergreen Capital Management LLC now owns 1,271,550 shares of the utilities provider’s stock worth $16,365,000 after acquiring an additional 799,363 shares during the period. Gabelli Funds LLC raised its position in AES by 0.7% in the fourth quarter. Gabelli Funds LLC now owns 3,680,600 shares of the utilities provider’s stock worth $47,369,000 after acquiring an additional 27,000 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of AES by 3.9% during the 4th quarter. Guggenheim Capital LLC now owns 416,260 shares of the utilities provider’s stock worth $5,357,000 after purchasing an additional 15,626 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AES has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of AES from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Jefferies Financial Group reissued a “hold” rating and set a $10.00 price target (down previously from $15.00) on shares of AES in a research note on Thursday, April 10th. Bank of America raised AES from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $11.00 to $13.00 in a research note on Tuesday, March 4th. Susquehanna lowered their target price on AES from $16.00 to $15.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Finally, Seaport Res Ptn downgraded AES from a “hold” rating to a “strong sell” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AES presently has an average rating of “Moderate Buy” and a consensus price target of $13.67.

AES Stock Performance

NYSE AES opened at $10.17 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.82 and a beta of 0.81. The AES Co. has a fifty-two week low of $9.86 and a fifty-two week high of $22.21. The business has a fifty day moving average of $11.30 and a 200-day moving average of $12.93.

AES (NYSE:AES) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping 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 net margin of 8.34% and a return on equity of 27.30%. During the same period last year, the company earned $0.73 EPS. As a group, analysts predict that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Thursday, May 1st. AES’s dividend payout ratio (DPR) is 29.54%.

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.