Steward Partners Investment Advisory LLC Sells 2,560 Shares of The AES Co. (NYSE:AES)

Steward Partners Investment Advisory LLC decreased its stake in shares of The AES Co. (NYSE:AESFree Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,375 shares of the utilities provider’s stock after selling 2,560 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in AES were worth $950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of AES by 15.5% during the third quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock worth $10,330,000 after acquiring an additional 91,247 shares during the last quarter. Lazard Asset Management LLC lifted its position in AES by 370.1% during the third quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock valued at $1,770,000 after purchasing an additional 91,749 shares during the last quarter. Federated Hermes Inc. bought a new position in AES during the fourth quarter valued at $863,000. Quadrature Capital Ltd lifted its position in AES by 54.8% during the third quarter. Quadrature Capital Ltd now owns 273,365 shares of the utilities provider’s stock valued at $4,157,000 after purchasing an additional 96,808 shares during the last quarter. Finally, Channing Capital Management LLC lifted its position in AES by 16.7% during the third quarter. Channing Capital Management LLC now owns 352,276 shares of the utilities provider’s stock valued at $5,355,000 after purchasing an additional 50,341 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Trading Down 3.8 %

AES stock opened at $20.76 on Tuesday. The company has a market capitalization of $14.75 billion, a PE ratio of 28.83 and a beta of 1.11. 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 $18.79 and its 200 day moving average is $17.79. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71.

AES (NYSE:AESGet Free Report) last posted its earnings results on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The business had revenue of $3.09 billion for 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 for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. On average, research analysts anticipate that The AES Co. will post 1.91 EPS for the current year.

Analyst Ratings Changes

AES has been the subject of several research reports. Mizuho increased their price objective on shares of AES from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Barclays reduced their target price on shares of AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Morgan Stanley reissued an “overweight” rating and issued a $25.00 target price on shares of AES in a research note on Monday, March 25th. Argus reissued a “buy” rating and issued a $25.00 target price on shares of AES in a research note on Tuesday, March 26th. Finally, UBS Group reduced their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.50.

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AES Profile

(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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