Allspring Global Investments Holdings LLC Decreases Holdings in The AES Co. (NYSE:AES)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of The AES Co. (NYSE:AES) by 83.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,323 shares of the utilities provider’s stock after selling 226,100 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AES were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in AES by 8.0% in the 3rd quarter. Empowered Funds LLC now owns 11,179 shares of the utilities provider’s stock valued at $224,000 after buying an additional 830 shares during the last quarter. OLD Second National Bank of Aurora boosted its position in AES by 1.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 84,624 shares of the utilities provider’s stock valued at $1,698,000 after buying an additional 835 shares during the last quarter. Live Oak Investment Partners boosted its position in AES by 3.9% in the 3rd quarter. Live Oak Investment Partners now owns 29,241 shares of the utilities provider’s stock valued at $587,000 after buying an additional 1,104 shares during the last quarter. Rockland Trust Co. boosted its position in AES by 7.4% in the 4th quarter. Rockland Trust Co. now owns 16,010 shares of the utilities provider’s stock valued at $206,000 after buying an additional 1,110 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in AES by 3.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 34,067 shares of the utilities provider’s stock valued at $683,000 after buying an additional 1,141 shares during the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. HSBC started coverage on shares of AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 price objective for the company. Mizuho cut their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Hsbc Global Res upgraded shares of AES to a “strong-buy” rating in a research note on Friday, December 13th. Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays cut their target price on shares of AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AES has an average rating of “Moderate Buy” and an average target price of $18.80.

AES Price Performance

AES opened at $10.72 on Tuesday. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 0.83 and a beta of 0.99. The AES Co. has a fifty-two week low of $9.88 and a fifty-two week high of $22.21. The company’s 50-day moving average price is $11.66 and its 200 day moving average price is $14.68. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.176 per share. The ex-dividend date is Thursday, May 1st. This represents a $0.70 annualized dividend and a yield of 6.57%. AES’s dividend payout ratio (DPR) is 48.61%.

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.