The AES Corporation (NYSE:AES) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in The AES Corporation (NYSE:AES) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,126,604 shares of the utilities provider’s stock after selling 630,227 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of AES worth $51,252,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. FMR LLC boosted its holdings in shares of AES by 19.5% in the fourth quarter. FMR LLC now owns 49,173,626 shares of the utilities provider’s stock valued at $632,865,000 after acquiring an additional 8,027,426 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of AES by 35.7% in the fourth quarter. Ameriprise Financial Inc. now owns 28,571,119 shares of the utilities provider’s stock valued at $367,499,000 after acquiring an additional 7,519,129 shares during the period. Geode Capital Management LLC lifted its holdings in shares of AES by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 16,895,678 shares of the utilities provider’s stock worth $216,862,000 after purchasing an additional 381,761 shares during the period. Invesco Ltd. lifted its holdings in shares of AES by 64.2% during the fourth quarter. Invesco Ltd. now owns 15,948,807 shares of the utilities provider’s stock worth $205,261,000 after purchasing an additional 6,238,087 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of AES during the fourth quarter worth $121,627,000. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Up 1.6%

AES opened at $12.61 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 3.42. The firm has a market cap of $8.98 billion, a P/E ratio of 6.85, a PEG ratio of 1.69 and a beta of 0.95. The AES Corporation has a 52 week low of $9.46 and a 52 week high of $20.30. The business’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $11.21.

AES (NYSE:AES) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.10). The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.13 billion. AES had a net margin of 10.67% and a return on equity of 18.06%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities research analysts anticipate that The AES Corporation will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 5.58%. AES’s payout ratio is 38.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. HSBC decreased their price target on AES from $15.00 to $14.00 in a report on Monday, May 5th. Jefferies Financial Group downgraded AES from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $10.00 to $9.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their price target on AES from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Argus reiterated a “hold” rating on shares of AES in a research report on Tuesday, May 27th. Finally, Citigroup cut their price objective on AES from $23.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

AES Company 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.