Allspring Global Investments Holdings LLC Boosts Stake in The AES Co. (NYSE:AES)

Allspring Global Investments Holdings LLC boosted its stake in shares of The AES Co. (NYSE:AES) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,068 shares of the utilities provider’s stock after purchasing an additional 5,612 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AES were worth $686,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC boosted its position in shares of AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 720 shares during the period. Riverview Trust Co purchased a new stake in AES in the 1st quarter worth $33,000. Principal Securities Inc. bought a new stake in AES during the fourth quarter valued at about $57,000. Palisade Asset Management LLC purchased a new position in shares of AES in the first quarter valued at about $61,000. Finally, EntryPoint Capital LLC boosted its stake in shares of AES by 146.3% in the first quarter. EntryPoint Capital LLC now owns 3,468 shares of the utilities provider’s stock worth $62,000 after acquiring an additional 2,060 shares during the period. Institutional investors own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $16.95 on Friday. The AES Co. has a 52-week low of $11.43 and a 52-week high of $22.21. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63. The firm’s fifty day moving average is $17.37 and its 200 day moving average is $17.84. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 23.54 and a beta of 1.08.

AES (NYSE:AES) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. Sell-side analysts forecast that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Thursday, August 1st. AES’s dividend payout ratio is currently 95.83%.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of research analyst reports. Barclays lowered their price target on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Mizuho boosted their target price on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Seaport Res Ptn cut shares of AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.71.

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.