The AES Co. (NYSE:AES) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of The AES Co. (NYSE:AES) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,345 shares of the utilities provider’s stock after selling 8,156 shares during the quarter. Corebridge Financial Inc.’s holdings in AES were worth $2,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. purchased a new position in shares of AES in the fourth quarter worth $103,000. Stevens Capital Management LP raised its stake in AES by 154.7% in the 4th quarter. Stevens Capital Management LP now owns 41,734 shares of the utilities provider’s stock worth $537,000 after acquiring an additional 25,348 shares during the last quarter. LPL Financial LLC lifted its position in AES by 8.1% during the 4th quarter. LPL Financial LLC now owns 519,975 shares of the utilities provider’s stock worth $6,692,000 after acquiring an additional 38,964 shares during the period. AXQ Capital LP grew its stake in AES by 526.5% during the 4th quarter. AXQ Capital LP now owns 91,867 shares of the utilities provider’s stock valued at $1,182,000 after purchasing an additional 77,203 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of AES by 350.2% in the fourth quarter. Sei Investments Co. now owns 324,906 shares of the utilities provider’s stock worth $4,181,000 after purchasing an additional 252,744 shares during the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AES shares. HSBC initiated 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. Barclays reduced their target price on shares of AES from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Mizuho lowered their price target on shares of AES from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Susquehanna decreased their price objective on AES from $16.00 to $15.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Finally, Seaport Res Ptn lowered AES from a “hold” rating to a “strong sell” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AES presently has an average rating of “Moderate Buy” and an average price target of $16.63.

AES Stock Performance

NYSE AES opened at $12.36 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The AES Co. has a twelve month low of $9.88 and a twelve month high of $22.21. The stock has a 50-day moving average of $11.38 and a 200 day moving average of $13.72. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.82 and a beta of 0.94.

AES (NYSE:AES) last issued its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. AES had a net margin of 8.34% and a return on equity of 27.30%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. Sell-side analysts anticipate that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.176 per share. The ex-dividend date is Thursday, May 1st. This represents a $0.70 annualized dividend and a yield of 5.69%. AES’s dividend payout ratio (DPR) is currently 29.54%.

AES Company 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.