Advisors Preferred LLC Invests $867,000 in The AES Corporation $AES

Advisors Preferred LLC bought a new stake in shares of The AES Corporation (NYSE:AES) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 65,901 shares of the utilities provider’s stock, valued at approximately $867,000.

A number of other large investors also recently modified their holdings of AES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AES by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock valued at $854,000 after purchasing an additional 3,936 shares during the period. Jones Financial Companies Lllp raised its holdings in AES by 259.7% in the first quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider’s stock worth $675,000 after buying an additional 39,283 shares during the last quarter. United Services Automobile Association purchased a new stake in AES during the 1st quarter valued at $190,000. Empowered Funds LLC boosted its position in shares of AES by 763.3% during the first quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider’s stock valued at $1,824,000 after buying an additional 129,841 shares during the last quarter. Finally, Woodline Partners LP grew its position in AES by 40.7% in the 1st quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider’s stock worth $746,000 after purchasing an additional 17,372 shares during the period. 93.13% of the stock is currently owned by institutional investors.

AES Stock Up 0.8%

NYSE:AES opened at $16.49 on Friday. The firm has a market capitalization of $11.74 billion, a P/E ratio of 10.30, a PEG ratio of 0.61 and a beta of 1.00. The company’s fifty day moving average price is $14.80 and its 200-day moving average price is $14.07. The AES Corporation has a 1-year low of $9.46 and a 1-year high of $16.78. The company has a debt-to-equity ratio of 3.15, a current ratio of 0.72 and a quick ratio of 0.66.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.176 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.3%. AES’s dividend payout ratio is 43.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AES shares. Jefferies Financial Group lifted their target price on AES from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, February 3rd. Barclays reiterated an “equal weight” rating and issued a $15.00 target price on shares of AES in a research report on Wednesday, February 4th. Weiss Ratings restated a “hold (c-)” rating on shares of AES in a report on Monday, December 29th. Morgan Stanley set a $23.00 price target on AES in a research note on Friday. Finally, HSBC lowered AES to a “buy” rating and set a $16.00 price target on the stock. in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

AES Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.