The AES Co. (NYSE:AES) Stake Decreased by Douglas Lane & Associates LLC

by · The Markets Daily

Douglas Lane & Associates LLC lessened its holdings in shares of The AES Co. (NYSE:AES – Free Report) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,509,081 shares of the utilities provider’s stock after selling 51,944 shares during the period. Douglas Lane & Associates LLC owned 0.49% of AES worth $70,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AES. Capital International Investors raised its holdings in shares of AES by 11.4% during the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock valued at $1,392,110,000 after buying an additional 7,969,594 shares during the last quarter. M&G Plc bought a new stake in shares of AES during the first quarter valued at approximately $123,272,000. Goldman Sachs Group Inc. raised its holdings in shares of AES by 70.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock valued at $124,008,000 after buying an additional 2,670,001 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AES by 2.2% during the first quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after acquiring an additional 1,929,523 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of AES during the second quarter valued at approximately $30,746,000. Institutional investors own 93.13% of the company’s stock.

AES Trading Down 0.1 %

NYSE AES traded down $0.01 on Friday, hitting $17.32. 7,074,972 shares of the stock were exchanged, compared to its average volume of 8,137,268. The AES Co. has a 52-week low of $12.87 and a 52-week high of $22.21. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 24.06 and a beta of 1.07. The company’s 50-day moving average price is $17.89 and its two-hundred day moving average price is $18.36.

AES (NYSE:AES – Get Free Report) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Research analysts predict that The AES Co. will post 1.9 EPS for the current year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.98%. AES’s dividend payout ratio (DPR) is currently 95.83%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Jefferies Financial Group assumed coverage on shares of AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.43.

Check Out Our Latest Report on AES

AES Company Profile

(Free Report)

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.

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