Norden Group LLC Sells 1,337 Shares of The AES Co. (NYSE:AES)

Norden Group LLC cut its holdings in The AES Co. (NYSE:AES) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,473 shares of the utilities provider’s stock after selling 1,337 shares during the period. Norden Group LLC’s holdings in AES were worth $298,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AES. Private Trust Co. NA grew its holdings in shares of AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,088 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of AES by 57.8% in the third quarter. EverSource Wealth Advisors LLC now owns 3,550 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 1,300 shares during the last quarter. Allworth Financial LP lifted its holdings in AES by 133.7% in the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after buying an additional 1,779 shares during the period. Parkside Financial Bank & Trust grew its position in shares of AES by 267.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock worth $69,000 after buying an additional 2,611 shares during the last quarter. Finally, CX Institutional bought a new position in shares of AES during the fourth quarter valued at approximately $70,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AES shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. UBS Group dropped their price target on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Argus reiterated a “buy” rating and issued a $25.00 price objective on shares of AES in a report on Tuesday, March 26th. Morgan Stanley restated an “overweight” rating and set a $25.00 target price on shares of AES in a report on Monday, March 25th. Finally, Barclays lowered their price target on shares of AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.13.

AES Trading Up 1.5 %

Shares of NYSE AES opened at $18.17 on Thursday. The stock has a market capitalization of $12.91 billion, a P/E ratio of 55.05 and a beta of 1.08. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.68 and a quick ratio of 0.61. The business has a fifty day moving average price of $16.58 and a 200 day moving average price of $16.92. The AES Co. has a 1-year low of $11.43 and a 1-year high of $23.16.

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

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.80%. The ex-dividend date is Tuesday, April 30th. AES’s payout ratio is 209.10%.

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.