The AES Co. (NYSE:AES) Shares Sold by IMA Wealth Inc.

IMA Wealth Inc. trimmed its position in shares of The AES Co. (NYSE:AES) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,146 shares of the utilities provider’s stock after selling 9,624 shares during the period. IMA Wealth Inc.’s holdings in AES were worth $2,351,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AES. FMR LLC increased its position in shares of AES by 38.6% during the third quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock worth $559,689,000 after acquiring an additional 10,256,781 shares during the period. CI Investments Inc. increased its position in shares of AES by 18,505.6% during the third quarter. CI Investments Inc. now owns 2,030,429 shares of the utilities provider’s stock worth $30,862,000 after acquiring an additional 2,019,516 shares during the period. Invesco Ltd. increased its position in shares of AES by 24.2% during the third quarter. Invesco Ltd. now owns 7,611,339 shares of the utilities provider’s stock worth $115,692,000 after acquiring an additional 1,484,052 shares during the period. Barclays PLC increased its position in shares of AES by 114.1% during the third quarter. Barclays PLC now owns 2,677,405 shares of the utilities provider’s stock worth $40,697,000 after acquiring an additional 1,426,662 shares during the period. Finally, Strs Ohio purchased a new stake in shares of AES during the third quarter worth $14,531,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Performance

NYSE AES traded up $0.08 on Friday, reaching $17.21. The stock had a trading volume of 4,772,193 shares, compared to its average volume of 7,139,495. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.61 and a current ratio of 0.68. The AES Co. has a 12-month low of $11.43 and a 12-month high of $23.81. The business’s 50-day moving average price is $16.52 and its 200 day moving average price is $16.77. The stock has a market cap of $12.23 billion, a P/E ratio of 52.15 and a beta of 1.08.

AES (NYSE:AES) last issued its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. AES had a return on equity of 38.76% and a net margin of 2.12%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts expect that The AES Co. will post 1.91 earnings per share for the current year.

AES Dividend Announcement

The company 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 $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Tuesday, April 30th. AES’s dividend payout ratio is currently 209.10%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AES shares. UBS Group cut their price objective on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of AES in a report on Tuesday, April 9th. Morgan Stanley restated an “overweight” rating and set a $25.00 target price on shares of AES in a research note on Monday, March 25th. Barclays decreased their target price on AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Finally, Argus restated a “buy” rating and set a $25.00 target price on shares of AES in a research note on Tuesday, March 26th. One investment 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.13.

About AES

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.