Allspring Global Investments Holdings LLC Has $641,000 Position in The AES Co. (NYSE:AES)

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

A number of other institutional investors and hedge funds have also bought and sold shares of AES. Envestnet Asset Management Inc. boosted its holdings in shares of AES by 15.5% during the third quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock worth $10,330,000 after acquiring an additional 91,247 shares during the period. Lazard Asset Management LLC boosted its stake in AES by 370.1% in the 3rd quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock valued at $1,770,000 after purchasing an additional 91,749 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in AES by 81.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 351,220 shares of the utilities provider’s stock valued at $5,339,000 after buying an additional 157,421 shares in the last quarter. Quadrature Capital Ltd increased its position in AES by 54.8% during the 3rd quarter. Quadrature Capital Ltd now owns 273,365 shares of the utilities provider’s stock worth $4,157,000 after buying an additional 96,808 shares during the period. Finally, Channing Capital Management LLC lifted its holdings in shares of AES by 16.7% during the third quarter. Channing Capital Management LLC now owns 352,276 shares of the utilities provider’s stock worth $5,355,000 after buying an additional 50,341 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of AES in a research report on Monday, March 25th. Mizuho assumed coverage on shares of AES in a report on Thursday, April 18th. They set a “buy” rating and a $21.00 target price on the stock. Argus reiterated a “buy” rating and issued a $25.00 price target on shares of AES in a research note on Tuesday, March 26th. Barclays lowered their price objective on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. 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 company’s stock. According to MarketBeat.com, AES currently has an average rating of “Moderate Buy” and an average price target of $22.13.

AES Trading Up 1.4 %

Shares of AES stock opened at $17.37 on Thursday. 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 fifty-two week low of $11.43 and a fifty-two week high of $24.08. The company has a market cap of $12.35 billion, a PE ratio of 52.64 and a beta of 1.08. The stock’s fifty day moving average price is $16.49 and its two-hundred day moving average price is $16.76.

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

AES Announces Dividend

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

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.