State Treasurer State of Michigan reduced its holdings in AES Corp (NYSE:AES) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 193,605 shares of the utilities provider’s stock after selling 6,800 shares during the quarter. State Treasurer State of Michigan’s holdings in AES were worth $2,097,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of AES. Cypress Capital Group acquired a new stake in AES in the third quarter valued at approximately $138,000. CAPROCK Group Inc. grew its holdings in AES by 69.5% in the fourth quarter. CAPROCK Group Inc. now owns 19,692 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 8,073 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in AES by 19.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 41,834 shares of the utilities provider’s stock valued at $453,000 after purchasing an additional 6,921 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in AES in the third quarter valued at approximately $668,000. Finally, ETRADE Capital Management LLC grew its holdings in AES by 25.3% in the third quarter. ETRADE Capital Management LLC now owns 62,722 shares of the utilities provider’s stock valued at $691,000 after purchasing an additional 12,669 shares during the period. 90.40% of the stock is currently owned by institutional investors.
Several analysts have commented on the company. Morgan Stanley dropped their price objective on AES from $14.00 to $12.50 and set an “equal weight” rating on the stock in a report on Wednesday, December 13th. Bank of America raised AES from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, November 13th. UBS Group assumed coverage on AES in a report on Friday, February 2nd. They issued a “neutral” rating and a $12.00 price objective on the stock. ValuEngine raised AES from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, SunTrust Banks set a $14.00 price objective on AES and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.42.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Wednesday, January 31st. This is an increase from AES’s previous quarterly dividend of $0.12. AES’s dividend payout ratio (DPR) is -44.44%.
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
Want to see what other hedge funds are holding AES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AES Corp (NYSE:AES).
Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.