SVB Wealth LLC Makes New $280,000 Investment in The AES Co. (NYSE:AES)

SVB Wealth LLC purchased a new position in shares of The AES Co. (NYSE:AES) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,525 shares of the utilities provider’s stock, valued at approximately $280,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of AES by 38.6% in the 3rd quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock valued at $559,689,000 after acquiring an additional 10,256,781 shares during the last quarter. CI Investments Inc. lifted its stake in shares of AES by 18,505.6% in the 3rd quarter. CI Investments Inc. now owns 2,030,429 shares of the utilities provider’s stock valued at $30,862,000 after acquiring an additional 2,019,516 shares during the last quarter. Invesco Ltd. lifted its stake in shares of AES by 24.2% in the 3rd quarter. Invesco Ltd. now owns 7,611,339 shares of the utilities provider’s stock valued at $115,692,000 after acquiring an additional 1,484,052 shares during the last quarter. Barclays PLC lifted its stake in shares of AES by 114.1% in the 3rd quarter. Barclays PLC now owns 2,677,405 shares of the utilities provider’s stock valued at $40,697,000 after acquiring an additional 1,426,662 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of AES in the 3rd quarter valued at about $14,531,000. Institutional investors own 93.13% of the company’s stock.

AES Stock Up 1.8 %

AES stock opened at $16.70 on Tuesday. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $24.20. The business’s 50 day moving average price is $16.47 and its two-hundred day moving average price is $16.73. 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 has a market capitalization of $11.87 billion, a price-to-earnings ratio of 50.61 and a beta of 1.08.

AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.36 billion. AES had a return on equity of 38.76% and a net margin of 2.12%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, analysts forecast that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a dividend yield of 4.13%. AES’s payout ratio is currently 209.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho assumed coverage on AES in a report on Thursday, April 18th. They set a “buy” rating and a $21.00 price target on the stock. Argus restated a “buy” rating and set a $25.00 price target on shares of AES in a report on Tuesday, March 26th. Barclays reduced their price target on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. UBS Group reduced their price target on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $22.00 price target on shares of AES in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.13.

About AES

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.