Cerity Partners LLC Sells 1,211 Shares of The AES Co. (NYSE:AES)

Cerity Partners LLC decreased its holdings in The AES Co. (NYSE:AESFree Report) by 10.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,224 shares of the utilities provider’s stock after selling 1,211 shares during the period. Cerity Partners LLC’s holdings in AES were worth $792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Coppell Advisory Solutions Corp. bought a new stake in AES during the 4th quarter worth $27,000. Gyon Technologies Capital Management LP bought a new stake in AES during the 4th quarter worth $32,000. Resurgent Financial Advisors LLC bought a new stake in AES during the 4th quarter worth $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in AES by 5,681.8% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,272 shares of the utilities provider’s stock worth $37,000 after buying an additional 1,250 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in AES by 3,172.5% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,309 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,269 shares during the period. Institutional investors own 94.49% of the company’s stock.

Wall Street Analyst Weigh In

AES has been the topic of several recent research reports. UBS Group cut their target price on AES from $30.00 to $27.00 in a report on Tuesday, May 9th. Bank of America downgraded AES from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $24.00 to $23.00 in a research note on Thursday, June 22nd. Barclays began coverage on AES in a report on Wednesday, August 23rd. They set an “overweight” rating and a $25.00 price objective for the company. Susquehanna decreased their price objective on AES from $33.00 to $30.00 in a report on Thursday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $29.00 price objective on shares of AES in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.83.

Check Out Our Latest Analysis on AES

Insider Activity

In other news, Director Maura Shaughnessy purchased 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $19.49 per share, for a total transaction of $243,625.00. Following the acquisition, the director now owns 60,653 shares of the company’s stock, valued at approximately $1,182,126.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Alain Monie acquired 27,400 shares of the stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $18.27 per share, for a total transaction of $500,598.00. Following the completion of the purchase, the director now owns 28,725 shares of the company’s stock, valued at approximately $524,805.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Maura Shaughnessy bought 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average price of $19.49 per share, with a total value of $243,625.00. Following the completion of the transaction, the director now directly owns 60,653 shares of the company’s stock, valued at $1,182,126.97. The disclosure for this purchase can be found here. Corporate insiders own 0.01% of the company’s stock.

AES Price Performance

AES stock opened at $17.89 on Monday. The firm has a 50 day moving average price of $20.16 and a 200-day moving average price of $21.90. The AES Co. has a 52-week low of $17.54 and a 52-week high of $29.89. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of -29.33, a PEG ratio of 1.20 and a beta of 0.98. The company has a debt-to-equity ratio of 6.02, a quick ratio of 0.84 and a current ratio of 0.94.

AES (NYSE:AESGet Free Report) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). AES had a positive return on equity of 36.65% and a negative net margin of 2.70%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $0.34 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts forecast that The AES Co. will post 1.7 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.1659 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Monday, July 31st. AES’s dividend payout ratio is -108.20%.

About AES

(Free Report)

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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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Institutional Ownership by Quarter for AES (NYSE:AES)

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