National Bank of Canada FI cut its position in The AES Co. (NYSE:AES - Free Report) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,308 shares of the utilities provider's stock after selling 124,275 shares during the quarter. National Bank of Canada FI owned about 0.07% of AES worth $9,996,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Millburn Ridgefield Corp purchased a new stake in shares of AES during the third quarter worth $28,000. Rothschild Investment LLC purchased a new stake in AES during the 2nd quarter worth about $28,000. Cromwell Holdings LLC boosted its stake in AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider's stock worth $35,000 after purchasing an additional 640 shares during the period. UMB Bank n.a. increased its position in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider's stock valued at $31,000 after buying an additional 898 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of AES in the second quarter worth about $33,000. Hedge funds and other institutional investors own 93.13% of the company's stock.
A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Bank of America initiated coverage on shares of AES in a report on Monday, November 25th. They issued an "underperform" rating and a $11.00 price target on the stock. Evercore ISI upgraded AES to a "strong-buy" rating in a research report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on AES in a report on Wednesday, September 11th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Susquehanna cut their price objective on AES from $24.00 to $21.00 and set a "positive" rating for the company in a report on Tuesday, November 5th. One investment 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.22.
Get Our Latest Report on AES
Shares of NYSE AES opened at $13.60 on Thursday. The stock has a market capitalization of $9.67 billion, a P/E ratio of 9.44, a PEG ratio of 0.68 and a beta of 1.02. 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 one year low of $12.53 and a one year high of $22.21. The firm's 50 day simple moving average is $15.21 and its two-hundred day simple moving average is $17.23.
AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, analysts expect that The AES Co. will post 1.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.176 dividend. This is a boost from AES's previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Friday, January 31st. AES's payout ratio is 47.92%.
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.
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