The AES Corporation $AES Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its stake in The AES Corporation (NYSE:AES) by 86.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,287 shares of the utilities provider’s stock after selling 1,451,545 shares during the period. Douglas Lane & Associates LLC’s holdings in AES were worth $3,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AES. BlackRock Inc. purchased a new position in AES during the 2nd quarter valued at about $722,429,000. HBK Investments L P acquired a new stake in AES in the 2nd quarter valued at about $162,298,000. SG Americas Securities LLC increased its stake in shares of AES by 99.8% during the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock worth $201,215,000 after buying an additional 7,133,230 shares during the period. Bank of New York Mellon Corp acquired a new position in AES during the 2nd quarter worth approximately $97,056,000. Finally, Bank of America Corp DE purchased a new stake in shares of AES in the 2nd quarter valued at approximately $80,584,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Down 0.0%

AES opened at $14.93 on Friday. The AES Corporation has a 12 month low of $13.21 and a 12 month high of $17.65. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The business has a 50 day simple moving average of $14.80 and a 200-day simple moving average of $14.64. The stock has a market capitalization of $10.65 billion, a P/E ratio of 5.70 and a beta of 0.97.

AES (NYSE:AES) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.45 by $0.15. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. On average, equities analysts anticipate that The AES Corporation will post 2.02 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.1759 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, July 31st. AES’s dividend payout ratio (DPR) is 26.72%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Seven analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.83.

About AES

AES Corporation is a global energy company that develops, owns and operates electricity generation and utility businesses. Its activities include renewable energy, natural gas-fired generation, battery energy storage and other energy infrastructure, as well as the distribution of electricity to customers through regulated utility operations.

The company serves residential, commercial and industrial customers in the United States and international markets, including countries in Latin America.