Choreo LLC Decreases Holdings in The AES Co. (NYSE:AES)

Choreo LLC lowered its holdings in The AES Co. (NYSE:AES) by 37.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,996 shares of the utilities provider’s stock after selling 7,905 shares during the quarter. Choreo LLC’s holdings in AES were worth $164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AES. Millburn Ridgefield Corp acquired a new position in AES during the third quarter worth approximately $28,000. Cromwell Holdings LLC raised its position in AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares during the last quarter. Brooklyn Investment Group acquired a new stake in AES during the 3rd quarter worth $63,000. Blue Trust Inc. grew its position in AES by 69.3% during the 3rd quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in AES in the fourth quarter valued at $95,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Stock Performance

NYSE:AES opened at $9.95 on Friday. The AES Co. has a 1-year low of $9.90 and a 1-year high of $22.21. The firm has a 50 day simple moving average of $12.02 and a 200-day simple moving average of $14.97. The firm has a market cap of $7.07 billion, a PE ratio of 6.91, a P/E/G ratio of 0.84 and a beta of 0.99. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80.

AES Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.176 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.08%. This is an increase from AES’s previous quarterly dividend of $0.17. AES’s payout ratio is currently 48.61%.

Wall Street Analyst Weigh In

AES has been the topic of several recent research reports. Mizuho dropped their price target on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. HSBC began coverage on AES in a report on Friday, December 13th. They set a “buy” rating and a $17.00 price target for the company. Bank of America started coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective for the company. Hsbc Global Res upgraded shares of AES to a “strong-buy” rating in a research report on Friday, December 13th. Finally, Barclays decreased their price target on AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.80.

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.