Victory Capital Management Inc. Cuts Stake in The AES Co. (NYSE:AES)

Victory Capital Management Inc. cut its holdings in The AES Co. (NYSE:AESFree Report) by 19.0% during the fourth quarter, Holdings Channel reports. The firm owned 479,260 shares of the utilities provider’s stock after selling 112,183 shares during the quarter. Victory Capital Management Inc.’s holdings in AES were worth $9,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AES. FMR LLC increased its holdings in shares of AES by 38.6% in the third quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock worth $559,689,000 after purchasing an additional 10,256,781 shares during the last quarter. Electron Capital Partners LLC boosted its position in shares of AES by 9.3% during the 3rd quarter. Electron Capital Partners LLC now owns 8,060,064 shares of the utilities provider’s stock valued at $122,513,000 after acquiring an additional 686,719 shares during the last quarter. Invesco Ltd. grew its holdings in shares of AES by 24.2% in the third quarter. Invesco Ltd. now owns 7,611,339 shares of the utilities provider’s stock valued at $115,692,000 after purchasing an additional 1,484,052 shares in the last quarter. Northern Trust Corp raised its stake in AES by 0.5% during the third quarter. Northern Trust Corp now owns 6,108,260 shares of the utilities provider’s stock valued at $92,846,000 after purchasing an additional 29,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in AES by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,728,296 shares of the utilities provider’s stock valued at $87,070,000 after purchasing an additional 140,149 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.

AES Trading Up 0.1 %

AES stock opened at $19.96 on Tuesday. The company has a market capitalization of $14.18 billion, a PE ratio of 27.72 and a beta of 1.08. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The AES Co. has a 12 month low of $11.43 and a 12 month high of $22.60. The firm’s 50-day moving average is $17.22 and its 200 day moving average is $17.24.

AES (NYSE:AESGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 36.23%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, research analysts anticipate that The AES Co. will post 1.91 EPS for the current year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.1725 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a dividend yield of 3.46%. AES’s payout ratio is currently 95.83%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AES. Mizuho started coverage on shares of AES in a report on Thursday, April 18th. They issued a “buy” rating and a $21.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of AES in a research report on Tuesday, April 9th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of AES in a report on Monday, March 25th. Argus restated a “buy” rating and issued a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. Finally, UBS Group dropped their price objective on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.13.

Get Our Latest Stock Report on AES

About AES

(Free Report)

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.

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Institutional Ownership by Quarter for AES (NYSE:AES)

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