The AES Co. (NYSE:AES) Shares Sold by SG Americas Securities LLC

Posted by Defense World Staff on Jan 23rd, 2023

SG Americas Securities LLC trimmed its position in The AES Co. (NYSE:AES – Get Rating) by 83.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,170 shares of the utilities provider’s stock after selling 139,467 shares during the period. SG Americas Securities LLC’s holdings in AES were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in shares of AES during the 2nd quarter worth about $26,000. Clear Street Markets LLC increased its position in AES by 411.7% during the 2nd quarter. Clear Street Markets LLC now owns 1,397 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 1,124 shares in the last quarter. Ronald Blue Trust Inc. acquired a new stake in AES during the 2nd quarter worth approximately $44,000. CoreCap Advisors LLC acquired a new stake in AES during the 2nd quarter worth approximately $46,000. Finally, Private Trust Co. NA acquired a new stake in AES during the 2nd quarter worth approximately $51,000. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

AES Stock Performance

AES opened at $26.93 on Monday. The stock has a market cap of $17.99 billion, a PE ratio of -57.30, a P/E/G ratio of 1.80 and a beta of 0.97. The company has a current ratio of 1.29, a quick ratio of 1.12 and a debt-to-equity ratio of 4.37. The AES Co. has a 1 year low of $18.62 and a 1 year high of $29.89. The stock’s 50 day simple moving average is $28.09 and its 200-day simple moving average is $25.67.

AES (NYSE:AES – Get Rating) last released its quarterly earnings data on Friday, November 4th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.09. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.93 billion. AES had a positive return on equity of 36.60% and a negative net margin of 1.88%. AES’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. Sell-side analysts forecast that The AES Co. will post 1.65 EPS for the current year.

AES Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be paid a $0.1659 dividend. This is a positive change from AES’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $0.66 annualized dividend and a yield of 2.46%. AES’s payout ratio is currently -134.04%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AES. Susquehanna Bancshares increased their target price on shares of AES from $30.00 to $33.00 in a research report on Monday, November 7th. Argus raised their target price on AES from $29.00 to $31.00 in a research note on Thursday, December 1st. Susquehanna raised their price target on AES from $30.00 to $33.00 in a report on Monday, November 7th. StockNews.com initiated coverage on AES in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Evercore ISI raised their price objective on AES to $30.00 in a research report on Monday, December 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.89.

Insider Activity at AES

In related news, CEO Andres Gluski sold 748,625 shares of the business’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $28.43, for a total value of $21,283,408.75. Following the sale, the chief executive officer now owns 1,285,504 shares of the company’s stock, valued at approximately $36,546,878.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.77% of the stock is owned by insiders.

About AES

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The AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU. The U.S.