Spirit of America Management Corp NY Raises Stock Holdings in The AES Co. (NYSE:AES)

Spirit of America Management Corp NY boosted its holdings in The AES Co. (NYSE:AES) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,500 shares of the utilities provider’s stock after buying an additional 9,500 shares during the quarter. Spirit of America Management Corp NY’s holdings in AES were worth $495,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in shares of AES during the 3rd quarter valued at about $28,000. Cromwell Holdings LLC increased its position in shares of AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of AES during the 3rd quarter valued at about $63,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of AES during the 3rd quarter valued at about $74,000. Finally, Blue Trust Inc. increased its position in shares of AES by 69.3% during the 3rd quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 1,509 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

AES has been the subject of several research reports. Mizuho reduced their price target on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Bank of America started coverage on AES in a research note on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective for the company. HSBC started coverage on AES in a research note on Friday, December 13th. They set a “buy” rating and a $17.00 price objective for the company. Susquehanna cut their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Finally, Hsbc Global Res upgraded AES to a “strong-buy” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.80.

AES Trading Down 0.9 %

AES stock opened at $10.62 on Wednesday. The AES Co. has a 1-year low of $10.33 and a 1-year 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 company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 0.85 and a beta of 0.99. The business has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $15.35.

AES Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a dividend yield of 6.63%. This is a boost from AES’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 31st. AES’s dividend payout ratio is 48.61%.

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.