AES Corp (AES) Holdings Cut by Prudential Financial Inc.
Prudential Financial Inc. reduced its position in shares of AES Corp (NYSE:AES) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,805,995 shares of the utilities provider’s stock after selling 204,950 shares during the quarter. Prudential Financial Inc.’s holdings in AES were worth $137,284,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. OppenheimerFunds Inc. raised its stake in AES by 5.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,229,948 shares of the utilities provider’s stock valued at $29,904,000 after purchasing an additional 120,330 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AES by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,206,715 shares of the utilities provider’s stock worth $29,595,000 after acquiring an additional 53,659 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of AES by 22.8% in the second quarter. Martingale Asset Management L P now owns 607,731 shares of the utilities provider’s stock worth $8,150,000 after acquiring an additional 112,893 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of AES by 55.0% in the second quarter. Advisors Asset Management Inc. now owns 1,155,454 shares of the utilities provider’s stock worth $15,495,000 after acquiring an additional 409,976 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of AES by 205.1% in the second quarter. Voya Investment Management LLC now owns 1,078,881 shares of the utilities provider’s stock worth $14,468,000 after acquiring an additional 725,231 shares during the last quarter. 98.44% of the stock is currently owned by institutional investors.
AES stock opened at $15.24 on Thursday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.10 and a current ratio of 1.24. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97. AES Corp has a one year low of $9.86 and a one year high of $16.28.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, October 31st. AES’s payout ratio is 48.15%.
A number of equities analysts have recently weighed in on the stock. TheStreet raised shares of AES from a “c+” rating to a “b” rating in a research note on Tuesday, November 6th. Morgan Stanley reaffirmed a “hold” rating and issued a $14.50 price target (up from $14.00) on shares of AES in a research note on Thursday, October 11th. ValuEngine raised shares of AES from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.00.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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