The AES Co. (NYSE:AES) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its stake in shares of The AES Co. (NYSE:AES) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,449 shares of the utilities provider’s stock after selling 17,219 shares during the period. Concurrent Investment Advisors LLC’s holdings in AES were worth $739,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning grew its position in AES by 7.4% in the 3rd quarter. Creative Planning now owns 113,165 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 7,782 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of AES by 69.3% in 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 grew its holdings in shares of AES by 594.7% in 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 third quarter worth $2,803,000. Finally, Clear Harbor Asset Management LLC grew its stake in shares of AES by 9.5% in the third quarter. Clear Harbor Asset Management LLC now owns 161,118 shares of the utilities provider’s stock worth $3,232,000 after acquiring an additional 14,010 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Trading Down 1.1 %

Shares of AES stock opened at $10.56 on Monday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The AES Co. has a 1 year low of $9.88 and a 1 year high of $22.21. The company’s fifty day moving average is $11.70 and its two-hundred day moving average is $14.72. The company has a market capitalization of $7.50 billion, a P/E ratio of 7.33, a PEG ratio of 0.83 and a beta of 0.99.

AES Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a $0.176 dividend. This represents a $0.70 annualized dividend and a dividend yield of 6.67%. AES’s payout ratio is 48.61%.

Analyst Upgrades and Downgrades

AES has been the subject of several recent research reports. Barclays decreased their price objective on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Mizuho dropped their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Hsbc Global Res raised shares of AES to a “strong-buy” rating in a research report on Friday, December 13th. Bank of America began coverage on AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price on the stock. Finally, Susquehanna decreased their price target on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.80.

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.