RWC Asset Management LLP Takes $4.76 Million Position in The AES Co. (NYSE:AES)

RWC Asset Management LLP acquired a new position in shares of The AES Co. (NYSE:AES) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 370,023 shares of the utilities provider’s stock, valued at approximately $4,762,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new position in shares of AES in the fourth quarter valued at approximately $1,593,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in AES during the 4th quarter worth approximately $583,000. Howard Capital Management Inc. increased its position in AES by 6.9% in the 4th quarter. Howard Capital Management Inc. now owns 253,788 shares of the utilities provider’s stock valued at $3,266,000 after acquiring an additional 16,341 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of AES during the fourth quarter valued at $165,000. Finally, Private Advisor Group LLC lifted its holdings in shares of AES by 118.0% during the fourth quarter. Private Advisor Group LLC now owns 39,103 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 21,168 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AES shares. Barclays lowered their target price on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Hsbc Global Res upgraded AES to a “strong-buy” rating in a report on Friday, December 13th. HSBC initiated coverage on shares of AES in a report on Friday, December 13th. They set a “buy” rating and a $17.00 price target for the company. Susquehanna reduced their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Bank of America began coverage on shares of AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

AES Price Performance

AES stock opened at $10.56 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The business has a 50-day simple moving average of $11.70 and a 200 day simple moving average of $14.72. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.83 and a beta of 0.99. The AES Co. has a 52 week low of $9.88 and a 52 week high of $22.21.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.67%. AES’s dividend payout ratio (DPR) is 48.61%.

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.