Corrado Advisors LLC Boosts Stake in The AES Co. (NYSE:AES)

Corrado Advisors LLC increased its stake in shares of The AES Co. (NYSE:AES) by 20.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 86,721 shares of the utilities provider’s stock after purchasing an additional 14,551 shares during the period. Corrado Advisors LLC’s holdings in AES were worth $1,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Millburn Ridgefield Corp purchased a new position in AES in the 3rd quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in AES in the 3rd quarter valued at approximately $63,000. Blue Trust Inc. boosted its position in AES by 69.3% in the 3rd quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock valued at $74,000 after buying an additional 1,509 shares during the period. Toth Financial Advisory Corp purchased a new position in AES in the 4th quarter valued at approximately $95,000. Finally, Kestra Investment Management LLC purchased a new position in AES in the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

Shares of NYSE:AES opened at $10.88 on Thursday. The company’s fifty day moving average price is $11.58 and its 200 day moving average price is $14.61. The AES Co. has a 12 month low of $9.88 and a 12 month high of $22.21. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market capitalization of $7.74 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.82 and a beta of 0.99.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be paid a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 annualized dividend and a yield of 6.47%. AES’s dividend payout ratio is currently 48.61%.

Analysts Set New Price Targets

Several equities analysts have commented on AES shares. Barclays decreased their price target on shares of 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 raised shares of AES to a “strong-buy” rating in a research report on Friday, December 13th. Susquehanna decreased their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. HSBC initiated coverage on shares of AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 price objective for the company. Finally, Bank of America initiated coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective for the company. One investment 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. According to MarketBeat.com, AES has an average rating of “Moderate Buy” and an average target price of $18.80.

AES 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.