The AES Co. (NYSE:AES) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of The AES Co. (NYSE:AES) by 594.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 271,423 shares of the utilities provider’s stock after buying an additional 232,355 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AES were worth $5,445,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC grew its holdings in AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of AES in the 2nd quarter valued at $28,000. UMB Bank n.a. lifted its stake in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. nVerses Capital LLC purchased a new position in AES in the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC boosted its stake in shares of AES by 183.8% in the second quarter. Crewe Advisors LLC now owns 3,023 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,958 shares during the period. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AES has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Barclays increased their price objective on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.57.

AES Price Performance

Shares of NYSE:AES opened at $16.96 on Monday. The AES Co. has a 12 month low of $14.53 and a 12 month high of $22.21. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 23.56 and a beta of 1.07. The stock’s 50 day moving average price is $17.99 and its 200 day moving average price is $18.31. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that The AES Co. will post 1.9 earnings per share for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Friday, November 1st. AES’s dividend payout ratio is presently 95.83%.

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.