AES Corp (NYSE:AES) Stock Position Decreased by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in shares of AES Corp (NYSE:AES) by 55.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,890 shares of the utilities provider’s stock after selling 126,310 shares during the period. DNB Asset Management AS’s holdings in AES were worth $2,008,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. River Road Asset Management LLC acquired a new position in shares of AES during the third quarter valued at $64,937,000. Nuveen Asset Management LLC increased its holdings in shares of AES by 639.0% during the second quarter. Nuveen Asset Management LLC now owns 3,893,252 shares of the utilities provider’s stock valued at $65,251,000 after purchasing an additional 3,366,443 shares during the period. BlackRock Inc. increased its holdings in shares of AES by 2.8% during the second quarter. BlackRock Inc. now owns 62,062,199 shares of the utilities provider’s stock valued at $1,040,161,000 after purchasing an additional 1,688,310 shares during the period. Foundry Partners LLC acquired a new position in shares of AES during the third quarter valued at $14,158,000. Finally, Mackay Shields LLC increased its holdings in shares of AES by 153.9% during the third quarter. Mackay Shields LLC now owns 1,393,937 shares of the utilities provider’s stock valued at $22,777,000 after purchasing an additional 844,850 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on AES. Morgan Stanley raised their price target on AES from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. TheStreet raised AES from a “c+” rating to a “b” rating in a report on Wednesday, November 6th. ValuEngine raised AES from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, UBS Group raised their price target on AES from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.51.

NYSE:AES opened at $20.50 on Friday. The business’s 50-day moving average price is $19.58 and its 200 day moving average price is $17.30. The firm has a market cap of $13.61 billion, a P/E ratio of 16.53, a PEG ratio of 1.53 and a beta of 1.09. AES Corp has a 52-week low of $14.60 and a 52-week high of $20.60. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 3.32.

AES (NYSE:AES) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. AES had a net margin of 4.90% and a return on equity of 22.67%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the business earned $0.35 earnings per share. AES’s revenue for the quarter was down 7.5% compared to the same quarter last year. Sell-side analysts expect that AES Corp will post 1.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.1433 dividend. This is an increase from AES’s previous quarterly dividend of $0.14. This represents a $0.57 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, January 30th. AES’s payout ratio is presently 44.35%.

About AES

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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