HL Financial Services LLC purchased a new stake in AES Corp (NYSE:AES) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 235,660 shares of the utilities provider’s stock, valued at approximately $3,408,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in AES during the fourth quarter valued at approximately $29,000. We Are One Seven LLC acquired a new position in AES during the fourth quarter valued at approximately $30,000. IMS Capital Management acquired a new position in AES during the third quarter valued at approximately $52,000. North Star Investment Management Corp. raised its position in AES by 22.8% during the fourth quarter. North Star Investment Management Corp. now owns 4,476 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 831 shares in the last quarter. Finally, Huntington National Bank raised its position in AES by 14.0% during the fourth quarter. Huntington National Bank now owns 5,133 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 632 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.
Several brokerages have commented on AES. Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday, January 21st. TheStreet upgraded shares of AES from a “c+” rating to a “b” rating in a research report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.00.
The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, February 1st were issued a dividend of $0.1365 per share. The ex-dividend date of this dividend was Thursday, January 31st. This is an increase from AES’s previous quarterly dividend of $0.13. This represents a $0.55 annualized dividend and a dividend yield of 3.18%. AES’s dividend payout ratio is 50.93%.
In related news, insider Jeffrey W. Ubben purchased 35,000 shares of the stock in a transaction dated Wednesday, December 26th. The stock was bought at an average cost of $13.75 per share, for a total transaction of $481,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.16% of the stock is currently owned by corporate insiders.
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AES Company Profile
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
Further Reading: Intrinsic Value and Stock Selection
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