Ameriprise Financial Inc. Sells 3,912,811 Shares of The AES Corporation $AES

Ameriprise Financial Inc. trimmed its holdings in shares of The AES Corporation (NYSE:AES) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,658,308 shares of the utilities provider’s stock after selling 3,912,811 shares during the quarter. Ameriprise Financial Inc.’s holdings in AES were worth $306,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings in shares of AES by 33.5% in the first quarter. Hexagon Capital Partners LLC now owns 3,880 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 974 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in shares of AES by 5.1% in the first quarter. Diversify Advisory Services LLC now owns 20,904 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 1,006 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of AES by 4.0% in the first quarter. Kestra Private Wealth Services LLC now owns 26,290 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 1,011 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of AES by 1.1% in the first quarter. Yousif Capital Management LLC now owns 94,686 shares of the utilities provider’s stock valued at $1,176,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Moloney Securities Asset Management LLC raised its holdings in shares of AES by 5.0% in the first quarter. Moloney Securities Asset Management LLC now owns 24,752 shares of the utilities provider’s stock valued at $307,000 after acquiring an additional 1,173 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AES. Wells Fargo & Company lifted their price objective on AES from $108.00 to $112.00 in a report on Friday, May 2nd. Argus restated a “hold” rating on shares of AES in a report on Tuesday, May 27th. Susquehanna lifted their target price on AES from $15.00 to $16.00 and gave the company a “positive” rating in a research note on Monday, July 21st. Barclays lifted their target price on AES from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded AES from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.67.

AES Price Performance

AES opened at $13.4650 on Friday. The business’s 50-day moving average is $12.39 and its two-hundred day moving average is $11.47. The AES Corporation has a 1 year low of $9.46 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.82 and a quick ratio of 0.74. The firm has a market capitalization of $9.59 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. AES had a return on equity of 19.02% and a net margin of 8.42%.The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. Research analysts anticipate that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.176 per share. The ex-dividend date was Friday, August 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.2%. AES’s payout ratio is presently 49.30%.

AES Profile

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.