The AES Corporation $AES Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC decreased its position in shares of The AES Corporation (NYSE:AES) by 15.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 298,202 shares of the utilities provider’s stock after selling 54,556 shares during the period. NewEdge Advisors LLC’s holdings in AES were worth $4,372,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AES. Allworth Financial LP raised its holdings in shares of AES by 205.8% during the second quarter. Allworth Financial LP now owns 18,365 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 12,359 shares during the period. Arizona State Retirement System raised its holdings in shares of AES by 0.5% during the second quarter. Arizona State Retirement System now owns 196,758 shares of the utilities provider’s stock valued at $2,884,000 after acquiring an additional 1,033 shares during the period. Waverly Advisors LLC lifted its position in shares of AES by 59.3% in the 2nd quarter. Waverly Advisors LLC now owns 30,367 shares of the utilities provider’s stock valued at $445,000 after acquiring an additional 11,301 shares in the last quarter. Corient Private Wealth LP grew its position in AES by 26.0% during the 2nd quarter. Corient Private Wealth LP now owns 149,984 shares of the utilities provider’s stock worth $2,199,000 after purchasing an additional 30,976 shares in the last quarter. Finally, Amundi raised its stake in AES by 193.0% during the 2nd quarter. Amundi now owns 2,879,483 shares of the utilities provider’s stock valued at $42,213,000 after purchasing an additional 1,896,587 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Stock Performance

Shares of NYSE AES opened at $14.80 on Tuesday. The AES Corporation has a 12 month low of $12.33 and a 12 month high of $17.65. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 2.93. The company has a market cap of $10.56 billion, a P/E ratio of 5.65 and a beta of 0.97. The business’s 50 day moving average is $14.76 and its two-hundred day moving average is $14.60.

AES (NYSE:AES) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. On average, equities analysts expect that The AES Corporation will post 2.23 EPS for the current year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.176 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. AES’s dividend payout ratio (DPR) is presently 26.72%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Eight analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.71.

About AES

The AES Corporation (NYSE: AES) is a global energy company that develops, owns and operates electricity generation and distribution businesses. Its portfolio includes renewable energy projects, natural gas and other power-generation facilities, battery energy storage systems, and utility operations. AES serves utilities, commercial and industrial customers, and other energy users through long-term power supply arrangements and related services.

The company has increasingly focused on renewable energy and energy infrastructure, including solar, wind and storage projects designed to support the transition to lower-carbon electricity systems.