Sit Investment Associates Inc. Reduces Stock Holdings in The AES Co. (NYSE:AES)

Sit Investment Associates Inc. reduced its position in The AES Co. (NYSE:AES) by 91.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,475 shares of the utilities provider’s stock after selling 167,825 shares during the quarter. Sit Investment Associates Inc.’s holdings in AES were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Coppell Advisory Solutions Corp. acquired a new position in AES during the fourth quarter worth $27,000. Gyon Technologies Capital Management LP purchased a new stake in shares of AES in the fourth quarter valued at about $32,000. Resurgent Financial Advisors LLC purchased a new position in AES during the fourth quarter worth about $34,000. Exchange Traded Concepts LLC purchased a new position in AES during the second quarter worth about $35,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of AES by 5,681.8% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,272 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,250 shares in the last quarter. 94.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America decreased their price objective on shares of AES from $23.00 to $15.00 in a report on Thursday, October 12th. StockNews.com upgraded shares of AES to a “sell” rating in a report on Friday, November 3rd. Susquehanna decreased their price objective on shares of AES from $33.00 to $30.00 in a research note on Thursday, August 3rd. Barclays decreased their price objective on shares of AES from $25.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Finally, TheStreet cut shares of AES from a “c-” rating to a “d+” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.13.

Insider Buying and Selling

In related news, CFO Stephen Coughlin acquired 1,529 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were bought at an average price of $16.40 per share, for a total transaction of $25,075.60. Following the purchase, the chief financial officer now directly owns 78,037 shares in the company, valued at approximately $1,279,806.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Paul L. Freedman bought 1,530 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was purchased at an average cost of $16.40 per share, for a total transaction of $25,092.00. Following the completion of the transaction, the executive vice president now owns 73,798 shares of the company’s stock, valued at $1,210,287.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stephen Coughlin purchased 1,529 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was bought at an average cost of $16.40 per share, with a total value of $25,075.60. Following the purchase, the chief financial officer now owns 78,037 shares of the company’s stock, valued at approximately $1,279,806.80. The disclosure for this purchase can be found here. Insiders bought a total of 57,039 shares of company stock worth $934,195 over the last three months. 0.01% of the stock is currently owned by company insiders.

AES Stock Down 0.6 %

Shares of NYSE AES opened at $16.91 on Friday. The stock has a market cap of $11.32 billion, a PE ratio of -19.22, a PEG ratio of 0.89 and a beta of 1.07. The business has a fifty day moving average of $15.22 and a two-hundred day moving average of $18.61. The AES Co. has a 52-week low of $11.43 and a 52-week high of $29.89. The company has a debt-to-equity ratio of 5.35, a quick ratio of 0.74 and a current ratio of 0.83.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were given a $0.1659 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.66 dividend on an annualized basis and a yield of 3.92%. AES’s payout ratio is -75.00%.

AES Company Profile

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.