The AES Co. (NYSE:AES) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC reduced its stake in The AES Co. (NYSE:AES) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,449 shares of the utilities provider’s stock after selling 17,219 shares during the period. Concurrent Investment Advisors LLC’s holdings in AES were worth $739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of AES by 18.2% during the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock valued at $775,354,000 after purchasing an additional 5,960,546 shares during the period. Two Sigma Advisers LP raised its position in shares of AES by 30.3% during the 3rd quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock worth $77,000,000 after buying an additional 892,500 shares in the last quarter. Bridgewater Associates LP acquired a new stake in shares of AES in the 3rd quarter worth approximately $17,390,000. M&G PLC lifted its stake in shares of AES by 12.7% in 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 period. Finally, HighTower Advisors LLC lifted its stake in shares of AES by 53.0% in the 3rd quarter. HighTower Advisors LLC now owns 1,596,850 shares of the utilities provider’s stock worth $32,031,000 after acquiring an additional 553,311 shares during the period. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Stock Down 1.1 %

Shares of NYSE:AES opened at $10.56 on Monday. The AES Co. has a 12 month low of $9.88 and a 12 month high of $22.21. 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 company’s 50-day moving average price is $11.70 and its two-hundred day moving average price is $14.72. The firm has a market cap of $7.50 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.83 and a beta of 0.99.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.176 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.67%. AES’s dividend payout ratio (DPR) is presently 48.61%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AES shares. Hsbc Global Res upgraded AES to a “strong-buy” rating in a research report on Friday, December 13th. HSBC initiated coverage on AES in a report on Friday, December 13th. They issued a “buy” rating and a $17.00 price objective for the company. Bank of America began coverage on shares of AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price target for the company. Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Finally, Mizuho cut their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.80.

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.