Kendall Capital Management Sells 1,705 Shares of The AES Co. (NYSE:AES)

Kendall Capital Management trimmed its stake in shares of The AES Co. (NYSE:AES) by 6.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,637 shares of the utilities provider’s stock after selling 1,705 shares during the quarter. Kendall Capital Management’s holdings in AES were worth $304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in AES by 18.2% during the 3rd quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock worth $775,354,000 after acquiring an additional 5,960,546 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AES by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock worth $330,125,000 after buying an additional 181,975 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AES by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider’s stock worth $88,536,000 after buying an additional 185,020 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AES by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 4,756,831 shares of the utilities provider’s stock worth $61,220,000 after buying an additional 249,486 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of AES by 12.5% in the 4th quarter. Empower Advisory Group LLC now owns 3,961,827 shares of the utilities provider’s stock worth $50,989,000 after buying an additional 439,493 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of recent analyst reports. Seaport Res Ptn lowered AES from a “hold” rating to a “strong sell” rating in a research report on Monday, March 3rd. Susquehanna cut their price objective on AES from $16.00 to $15.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $11.00 to $13.00 in a research report on Tuesday, March 4th. Barclays dropped their price target on AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, HSBC assumed coverage on AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

AES Stock Up 3.3 %

Shares of NYSE:AES opened at $11.23 on Monday. The stock has a fifty day simple moving average of $11.32 and a two-hundred day simple moving average of $14.29. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.82 and a beta of 0.94. The AES Co. has a 12-month low of $9.88 and a 12-month high of $22.21. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.20. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. On average, research analysts anticipate that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Thursday, May 1st. AES’s dividend payout ratio 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.