Sound Shore Management Inc CT Sells 2,171,875 Shares of The AES Corporation $AES

Sound Shore Management Inc CT reduced its holdings in shares of The AES Corporation (NYSE:AES) by 26.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,895,812 shares of the utilities provider’s stock after selling 2,171,875 shares during the period. AES comprises 2.6% of Sound Shore Management Inc CT’s portfolio, making the stock its 24th biggest position. Sound Shore Management Inc CT owned about 0.83% of AES worth $77,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AES by 6.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock valued at $854,000 after acquiring an additional 3,936 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of AES by 259.7% in the 1st quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider’s stock worth $675,000 after acquiring an additional 39,283 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of AES during the 1st quarter worth $190,000. Empowered Funds LLC grew its stake in AES by 763.3% in the first quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider’s stock valued at $1,824,000 after purchasing an additional 129,841 shares during the last quarter. Finally, Woodline Partners LP lifted its position in shares of AES by 40.7% during the first quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider’s stock valued at $746,000 after buying an additional 17,372 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Trading Up 1.3%

Shares of AES stock opened at $16.46 on Thursday. The AES Corporation has a 1 year low of $9.46 and a 1 year high of $16.59. The company has a debt-to-equity ratio of 3.15, a current ratio of 0.72 and a quick ratio of 0.66. The stock has a market cap of $11.72 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.60 and a beta of 1.00. The firm has a fifty day moving average price of $14.46 and a 200 day moving average price of $13.92.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, January 30th. AES’s dividend payout ratio (DPR) is 43.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AES. Jefferies Financial Group lifted their price objective on shares of AES from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, February 3rd. Mizuho upped their price target on AES from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Barclays reissued an “equal weight” rating and issued a $15.00 price objective on shares of AES in a research report on Wednesday, February 4th. Argus upgraded AES from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of AES in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AES has an average rating of “Moderate Buy” and a consensus target price of $24.08.

AES Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.