Allspring Global Investments Holdings LLC Sells 13,855 Shares of The AES Co. (NYSE:AES)

Allspring Global Investments Holdings LLC reduced its stake in shares of The AES Co. (NYSE:AES) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,295 shares of the utilities provider’s stock after selling 13,855 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AES were worth $641,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA lifted its stake in shares of AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock valued at $51,000 after buying an additional 1,088 shares during the period. Allworth Financial LP lifted its position in shares of AES by 133.7% in the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,779 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of AES by 57.8% during the third quarter. EverSource Wealth Advisors LLC now owns 3,550 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,300 shares during the period. CX Institutional bought a new position in AES in the fourth quarter worth $70,000. Finally, Global Retirement Partners LLC boosted its stake in AES by 35.2% during the third quarter. Global Retirement Partners LLC now owns 3,710 shares of the utilities provider’s stock worth $56,000 after buying an additional 965 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

AES Stock Performance

Shares of NYSE:AES opened at $17.37 on Thursday. The business has a fifty day moving average of $16.49 and a 200-day moving average of $16.76. The firm has a market cap of $12.35 billion, a PE ratio of 52.64 and a beta of 1.08. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.61 and a current ratio of 0.68. The AES Co. has a twelve month low of $11.43 and a twelve month high of $24.08.

AES (NYSE:AES) last announced its earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.36 billion. AES had a net margin of 2.12% and a return on equity of 38.76%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities research analysts predict that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.97%. AES’s payout ratio is currently 209.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AES shares. Mizuho assumed coverage on shares of AES in a report on Thursday, April 18th. They set a “buy” rating and a $21.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price objective on shares of AES in a report on Monday, March 25th. UBS Group cut their target price on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. Finally, Argus reissued a “buy” rating and set a $25.00 price objective on shares of AES in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.13.

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.