Rhumbline Advisers Has $14.96 Million Stock Position in The AES Co. (NYSE:AES)

Rhumbline Advisers trimmed its stake in shares of The AES Co. (NYSE:AES) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,162,107 shares of the utilities provider’s stock after selling 7,500 shares during the quarter. Rhumbline Advisers owned 0.16% of AES worth $14,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AES. Creative Planning boosted its holdings in AES by 7.4% during the third quarter. Creative Planning now owns 113,165 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 7,782 shares in the last quarter. Blue Trust Inc. boosted its holdings in AES by 69.3% during the third quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 1,509 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in AES by 594.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 271,423 shares of the utilities provider’s stock valued at $5,445,000 after purchasing an additional 232,355 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of AES in the 3rd quarter worth approximately $2,803,000. Finally, Cromwell Holdings LLC boosted its holdings in shares of AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 640 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AES shares. Mizuho reduced their target price on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Barclays reduced their target price on AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Hsbc Global Res raised AES to a “strong-buy” rating in a report on Friday, December 13th. HSBC started coverage on AES in a report on Friday, December 13th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Susquehanna reduced their target price on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. One 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.80.

AES Stock Performance

Shares of AES stock opened at $10.56 on Friday. The firm has a fifty day moving average of $11.70 and a two-hundred day moving average of $14.73. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.83 and a beta of 0.99. The AES Co. has a 52 week low of $9.88 and a 52 week high of $22.21. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be given a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.67%. AES’s payout ratio 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.