Baker Tilly Wealth Management LLC Sells 4,934 Shares of The AES Co. (NYSE:AES)

Baker Tilly Wealth Management LLC trimmed its holdings in shares of The AES Co. (NYSE:AES) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,968 shares of the utilities provider’s stock after selling 4,934 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in AES were worth $167,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AES. State Street Corp raised its position in shares of AES by 18.2% in the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock valued at $775,354,000 after buying an additional 5,960,546 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AES by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock valued at $330,125,000 after acquiring an additional 181,975 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of AES by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock worth $134,286,000 after purchasing an additional 82,956 shares in the last quarter. M&G PLC raised its stake in AES by 12.7% in the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after purchasing an additional 732,457 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in AES by 30.3% during the third quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock worth $77,000,000 after purchasing an additional 892,500 shares during the period. Institutional investors own 93.13% of the company’s stock.

Analysts Set New Price Targets

AES has been the subject of several analyst reports. Barclays dropped their target price on shares of AES from $23.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Mizuho cut their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Evercore ISI upgraded AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Hsbc Global Res upgraded AES to a “strong-buy” rating in a research report on Friday, December 13th. Finally, Bank of America initiated coverage on AES in a research report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AES currently has a consensus rating of “Moderate Buy” and an average target price of $19.30.

AES Trading Down 3.1 %

Shares of NYSE AES opened at $12.02 on Friday. The firm has a 50 day moving average price of $13.31 and a two-hundred day moving average price of $16.20. The stock has a market cap of $8.55 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 0.71 and a beta of 1.00. The AES Co. has a 52-week low of $11.95 and a 52-week high of $22.21. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES (NYSE:AES) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $0.60 EPS. AES’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that The AES Co. will post 1.95 EPS for the current year.

AES Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from AES’s previous quarterly dividend of $0.17. AES’s dividend payout ratio is currently 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.