APG Asset Management N.V. Sells 379,915 Shares of The AES Co. (NYSE:AES)

APG Asset Management N.V. lowered its stake in The AES Co. (NYSE:AES) by 53.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,272 shares of the utilities provider’s stock after selling 379,915 shares during the quarter. APG Asset Management N.V.’s holdings in AES were worth $5,496,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC boosted its position in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares in the last quarter. Rothschild Investment LLC bought a new stake in AES during the 2nd quarter worth $28,000. UMB Bank n.a. increased its holdings in AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Riverview Trust Co bought a new position in AES in the first quarter valued at about $33,000. Finally, nVerses Capital LLC acquired a new stake in shares of AES during the second quarter valued at about $33,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on AES. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Barclays decreased their price objective on AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.50.

AES Stock Performance

Shares of AES stock opened at $20.07 on Monday. The business has a 50-day moving average price of $17.64 and a two-hundred day moving average price of $18.16. The AES Co. has a 1-year low of $11.43 and a 1-year high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The company has a market cap of $14.26 billion, a P/E ratio of 27.88 and a beta of 1.07.

AES (NYSE:AES) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, analysts anticipate that The AES Co. will post 1.9 EPS for the current year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, August 1st. AES’s dividend payout ratio (DPR) is currently 95.83%.

AES Profile

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.