TCW Group Inc. Sells 1,216,343 Shares of The AES Co. (NYSE:AES)

TCW Group Inc. lowered its holdings in shares of The AES Co. (NYSE:AES) by 49.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,266,690 shares of the utilities provider’s stock after selling 1,216,343 shares during the period. TCW Group Inc.’s holdings in AES were worth $16,302,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of AES by 18.2% during 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 last quarter. Geode Capital Management LLC grew its holdings in shares of AES by 1.1% during 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of AES by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after purchasing an additional 82,956 shares during the last quarter. M&G PLC grew its holdings in shares of AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after purchasing an additional 732,457 shares during the last quarter. Finally, Empower Advisory Group LLC grew its holdings in shares of AES by 12.5% during 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 last quarter. Institutional investors own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AES. HSBC began coverage on shares of AES in a report on Friday, December 13th. They issued a “buy” rating and a $17.00 price target on the stock. Hsbc Global Res raised shares of AES to a “strong-buy” rating in a report on Friday, December 13th. Susquehanna cut their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Barclays cut their price target on shares of AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Bank of America started coverage on shares of AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

AES Trading Down 1.1 %

Shares of AES opened at $10.56 on Friday. The AES Co. has a 1-year low of $9.88 and a 1-year high of $22.21. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.83 and a beta of 0.99. The firm’s 50-day moving average price is $11.70 and its 200-day moving average price is $14.73. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a yield of 6.67%. AES’s dividend payout ratio (DPR) is currently 48.61%.

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.