7,361 Shares in The AES Co. (NYSE:AES) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new stake in shares of The AES Co. (NYSE:AES) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,361 shares of the utilities provider’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also modified their holdings of AES. Creative Planning grew its holdings in shares of AES by 7.4% during the third quarter. Creative Planning now owns 113,165 shares of the utilities provider’s stock valued at $2,270,000 after buying an additional 7,782 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of AES by 69.3% during the third quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock valued at $74,000 after buying an additional 1,509 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of AES by 594.7% during 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 buying an additional 232,355 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of AES during the third quarter valued at $325,000. Finally, International Assets Investment Management LLC purchased a new position in shares of AES during the third quarter valued at $2,803,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

NYSE AES opened at $10.68 on Friday. The AES Co. has a twelve month low of $9.88 and a twelve month high of $22.21. 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 stock has a market capitalization of $7.59 billion, a PE ratio of 7.41, a P/E/G ratio of 0.80 and a beta of 0.99. The stock has a 50-day simple moving average of $11.76 and a 200 day simple moving average of $14.79.

AES Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from AES’s previous quarterly dividend of $0.17. AES’s payout ratio is currently 48.61%.

Analyst Ratings Changes

A number of analysts recently issued reports on AES shares. Bank of America started coverage on AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective for the company. Susquehanna reduced their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Barclays reduced their price objective on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Mizuho reduced their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Finally, HSBC initiated coverage on AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.80.

AES Company 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.