Corient Private Wealth LLC Reduces Stock Holdings in The AES Co. (NYSE:AES)

Corient Private Wealth LLC cut its stake in The AES Co. (NYSE:AES) by 25.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,046 shares of the utilities provider’s stock after selling 42,821 shares during the quarter. Corient Private Wealth LLC’s holdings in AES were worth $1,609,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AES. State Street Corp raised its stake in AES by 18.2% in the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock worth $775,354,000 after buying an additional 5,960,546 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of AES in the 4th quarter worth approximately $33,964,000. Two Sigma Advisers LP lifted its stake in shares of AES by 30.3% in the 3rd quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock valued at $77,000,000 after purchasing an additional 892,500 shares during the period. Bridgewater Associates LP bought a new stake in shares of AES during the third quarter valued at approximately $17,390,000. Finally, HighTower Advisors LLC grew its stake in AES by 53.0% in the third quarter. HighTower Advisors LLC now owns 1,596,850 shares of the utilities provider’s stock worth $32,031,000 after purchasing an additional 553,311 shares during the period. Institutional investors own 93.13% of the company’s stock.

AES Price Performance

NYSE AES opened at $12.88 on Tuesday. The AES Co. has a one year low of $9.88 and a one year high of $22.21. The stock has a 50-day moving average of $11.30 and a 200 day moving average of $13.92. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 0.82 and a beta of 0.94.

AES (NYSE:AES) last announced its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the business posted $0.73 earnings per share. On average, sell-side analysts forecast that The AES Co. will post 1.93 EPS for the current year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.176 dividend. This represents a $0.70 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Thursday, May 1st. AES’s payout ratio is currently 29.54%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Susquehanna dropped their target price on shares of AES from $16.00 to $15.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Mizuho dropped their price objective on shares of AES from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and raised their target price for the company from $11.00 to $13.00 in a research note on Tuesday, March 4th. HSBC began coverage on AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Hsbc Global Res raised AES to a “strong-buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

About AES

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.