Kendall Capital Management Lowers Position in The AES Co. (NYSE:AES)

Kendall Capital Management lessened its holdings in The AES Co. (NYSE:AES) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,637 shares of the utilities provider’s stock after selling 1,705 shares during the quarter. Kendall Capital Management’s holdings in AES were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its stake in AES by 18.2% in the 3rd quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock valued at $775,354,000 after purchasing an additional 5,960,546 shares during the period. Geode Capital Management LLC grew its stake in AES by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock valued at $330,125,000 after purchasing an additional 181,975 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AES by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider’s stock valued at $88,536,000 after purchasing an additional 185,020 shares during the period. Bank of New York Mellon Corp grew its stake in AES by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,756,831 shares of the utilities provider’s stock valued at $61,220,000 after purchasing an additional 249,486 shares during the period. Finally, Empower Advisory Group LLC grew its stake in AES by 12.5% in the 4th quarter. Empower Advisory Group LLC now owns 3,961,827 shares of the utilities provider’s stock valued at $50,989,000 after purchasing an additional 439,493 shares during the period. Institutional investors own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AES shares. Barclays cut their price target 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 cut their price target on AES from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. HSBC started coverage on AES in a research note on Friday, December 13th. They set a “buy” rating and a $17.00 price target for the company. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $11.00 to $13.00 in a research note on Tuesday, March 4th. Finally, Hsbc Global Res upgraded AES to a “strong-buy” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AES presently has an average rating of “Moderate Buy” and an average price target of $18.30.

AES Stock Performance

NYSE:AES opened at $11.23 on Monday. The business’s 50-day moving average price is $11.32 and its two-hundred day moving average price is $14.29. The AES Co. has a twelve month low of $9.88 and a twelve month high of $22.21. The stock has a market cap of $7.98 billion, a P/E ratio of 7.80, a PEG ratio of 0.82 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.20. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.07 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. During the same quarter last year, the firm posted $0.73 EPS. As a group, equities analysts predict that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.27%. AES’s dividend payout ratio is 29.54%.

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.