TCW Group Inc. Reduces Stake in The AES Co. (NYSE:AES)

TCW Group Inc. trimmed its stake in The AES Co. (NYSE:AES) by 49.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,266,690 shares of the utilities provider’s stock after selling 1,216,343 shares during the quarter. TCW Group Inc. owned approximately 0.18% of AES worth $16,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in 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 acquiring an additional 5,960,546 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AES by 1.1% in the third quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock valued at $330,125,000 after purchasing an additional 181,975 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of AES by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after purchasing an additional 82,956 shares during the period. M&G PLC raised its position in shares of 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 during the period. Finally, Empower Advisory Group LLC raised its position in shares of AES by 12.5% in the fourth quarter. Empower Advisory Group LLC now owns 3,961,827 shares of the utilities provider’s stock valued at $50,989,000 after purchasing an additional 439,493 shares during the period. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Stock Performance

AES stock opened at $10.56 on Friday. The firm’s fifty day moving average price is $11.70 and its 200-day moving average price is $14.73. 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 stock has a market cap of $7.50 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 0.83 and a beta of 0.99. The AES Co. has a fifty-two week low of $9.88 and a fifty-two week high of $22.21.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.67%. AES’s dividend payout ratio (DPR) is currently 48.61%.

Analysts Set New Price Targets

AES has been the topic of several research reports. Bank of America initiated coverage on shares of AES in a research report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price target on the stock. Barclays lowered their price target on shares of AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Hsbc Global Res raised shares of AES to a “strong-buy” rating in a report on Friday, December 13th. Susquehanna lowered their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Finally, Mizuho lowered their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.