The AES Co. (NYSE:AES) Shares Sold by Fmr LLC

Fmr LLC lowered its holdings in The AES Co. (NYSE:AES) by 14.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,146,200 shares of the utilities provider’s stock after selling 7,034,311 shares during the period. Fmr LLC owned about 0.06% of AES worth $825,393,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AES. DekaBank Deutsche Girozentrale grew its position in shares of AES by 161.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock worth $2,035,000 after buying an additional 66,145 shares in the last quarter. M&G PLC grew its stake in AES by 12.7% in the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock worth $130,235,000 after purchasing an additional 732,457 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in AES by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after buying an additional 82,956 shares during the last quarter. Summit Global Investments bought a new position in AES during the 3rd quarter worth approximately $816,000. Finally, Empower Advisory Group LLC grew its position in shares of AES by 5.8% in the 3rd quarter. Empower Advisory Group LLC now owns 3,522,334 shares of the utilities provider’s stock worth $70,658,000 after acquiring an additional 193,755 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AES shares. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Barclays increased their price objective on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Mizuho decreased their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Susquehanna cut their price target on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, Bank of America began coverage on AES in a research report on Monday. They issued an “underperform” rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.22.

AES Price Performance

Shares of NYSE:AES opened at $13.00 on Thursday. The stock has a market cap of $9.24 billion, a price-to-earnings ratio of 8.73 and a beta of 1.10. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The AES Co. has a 12 month low of $12.53 and a 12 month high of $22.21. The stock’s 50 day moving average price is $16.60 and its 200 day moving average price is $17.79.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. Equities research analysts anticipate that The AES Co. will post 1.94 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Friday, November 1st. AES’s dividend payout ratio is presently 47.92%.

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.