Connor Clark & Lunn Investment Management Ltd. Purchases New Position in The AES Co. (NYSE:AES)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The AES Co. (NYSE:AES) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 445,620 shares of the utilities provider’s stock, valued at approximately $5,735,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of AES as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its position in AES by 8.0% in the 3rd quarter. Empowered Funds LLC now owns 11,179 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 830 shares during the period. Rockland Trust Co. increased its holdings in AES by 7.4% in the fourth quarter. Rockland Trust Co. now owns 16,010 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 1,110 shares during the period. Sanctuary Advisors LLC raised its position in AES by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,067 shares of the utilities provider’s stock worth $683,000 after purchasing an additional 1,141 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in AES by 93.3% during the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock worth $37,000 after buying an additional 1,369 shares during the period. Finally, River Street Advisors LLC grew its position in shares of AES by 8.1% in the 3rd quarter. River Street Advisors LLC now owns 18,240 shares of the utilities provider’s stock valued at $366,000 after buying an additional 1,373 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AES shares. HSBC started coverage on AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 price objective for the company. Seaport Res Ptn downgraded shares of AES from a “hold” rating to a “strong sell” rating in a research report on Monday, March 3rd. Susquehanna decreased their price objective on shares of AES from $16.00 to $15.00 and set a “positive” rating for the company in a research report on Wednesday, March 5th. Bank of America upgraded shares of AES from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a report on Tuesday, March 4th. Finally, Mizuho decreased their price target on AES from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, AES presently has an average rating of “Moderate Buy” and an average target price of $18.30.

AES Stock Up 0.3 %

AES stock opened at $12.32 on Friday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The AES Co. has a fifty-two week low of $9.88 and a fifty-two week high of $22.21. The stock’s 50 day simple moving average is $11.23 and its 200 day simple moving average is $14.12. The company has a market cap of $8.76 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94.

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

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.176 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.71%. AES’s dividend payout ratio is presently 29.54%.

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.