BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in AES Corp (NYSE:AES) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,227 shares of the utilities provider’s stock after selling 73,228 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of AES worth $8,375,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AES. O Shaughnessy Asset Management LLC purchased a new position in AES in the 3rd quarter worth approximately $100,000. MinichMacGregor Wealth Management LLC purchased a new position in AES in the 3rd quarter worth approximately $121,000. Creative Planning purchased a new position in AES in the 3rd quarter worth approximately $141,000. Gideon Capital Advisors Inc. purchased a new position in AES in the 2nd quarter worth approximately $142,000. Finally, Wedbush Securities Inc. purchased a new position in AES in the 2nd quarter worth approximately $152,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on AES. TheStreet raised shares of AES from a “c+” rating to a “b” rating in a research note on Tuesday, November 6th. Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, October 10th. ValuEngine raised shares of AES from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Morgan Stanley reissued a “hold” rating and issued a $14.50 target price (up from $14.00) on shares of AES in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.00.
Shares of NYSE AES opened at $15.53 on Friday. The company has a market cap of $10.24 billion, a PE ratio of 14.38, a PEG ratio of 1.42 and a beta of 0.98. The company has a debt-to-equity ratio of 3.17, a current ratio of 1.24 and a quick ratio of 1.10. AES Corp has a 1 year low of $9.86 and a 1 year high of $16.28.
AES (NYSE:AES) last announced its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.63 billion. AES had a negative net margin of 2.48% and a positive return on equity of 19.50%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. On average, sell-side analysts expect that AES Corp will post 1.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.35%. AES’s dividend payout ratio is currently 48.15%.
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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.
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