California Public Employees Retirement System Trims Stake in The AES Co. (NYSE:AES)

California Public Employees Retirement System lessened its stake in The AES Co. (NYSE:AES) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,254,227 shares of the utilities provider’s stock after selling 55,654 shares during the period. California Public Employees Retirement System’s holdings in AES were worth $24,144,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AES. Private Trust Co. NA increased its stake in AES by 68.8% in the 4th quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after buying an additional 1,088 shares during the period. EverSource Wealth Advisors LLC increased its stake in AES by 57.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,550 shares of the utilities provider’s stock worth $54,000 after buying an additional 1,300 shares during the period. Allworth Financial LP increased its stake in AES by 133.7% in the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after buying an additional 1,779 shares during the period. CX Institutional purchased a new position in AES in the 4th quarter worth about $70,000. Finally, CVA Family Office LLC purchased a new position in AES in the 4th quarter worth about $73,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analyst Ratings Changes

AES has been the topic of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $25.00 target price on shares of AES in a report on Monday, March 25th. Mizuho initiated 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. Barclays dropped their target price on shares of AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. UBS Group dropped their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Finally, Argus reiterated a “buy” rating and set a $25.00 target price on shares of AES in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.13.

AES Stock Up 0.5 %

NYSE:AES opened at $17.21 on Monday. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $23.81. The stock has a market capitalization of $12.23 billion, a P/E ratio of 52.15 and a beta of 1.08. 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 company’s 50-day simple moving average is $16.53 and its 200-day simple moving average is $16.85.

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

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s payout ratio is currently 209.10%.

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.