The AES Co. (NYSE:AES) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of The AES Co. (NYSE:AES) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,048 shares of the utilities provider’s stock after selling 29,570 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AES were worth $1,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments Inc raised its position in AES by 97.4% in the third quarter. Atria Investments Inc now owns 86,553 shares of the utilities provider’s stock worth $1,736,000 after acquiring an additional 42,707 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of AES by 3.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,000 shares of the utilities provider’s stock worth $32,016,000 after purchasing an additional 59,735 shares in the last quarter. CIBC Asset Management Inc lifted its stake in AES by 8.4% during the third quarter. CIBC Asset Management Inc now owns 104,521 shares of the utilities provider’s stock valued at $2,097,000 after purchasing an additional 8,061 shares during the last quarter. Empowered Funds LLC boosted its holdings in AES by 8.0% during the third quarter. Empowered Funds LLC now owns 11,179 shares of the utilities provider’s stock worth $224,000 after buying an additional 830 shares in the last quarter. Finally, River Street Advisors LLC increased its holdings in shares of AES by 8.1% in the third quarter. River Street Advisors LLC now owns 18,240 shares of the utilities provider’s stock valued at $366,000 after buying an additional 1,373 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Stock Performance

Shares of NYSE AES opened at $12.32 on Friday. The business’s 50-day moving average price is $11.23 and its two-hundred day moving average price is $14.12. The AES Co. has a one year low of $9.88 and a one year high of $22.21. The company has a market capitalization of $8.76 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80.

AES (NYSE:AES) last posted its earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.07 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. During the same period in the prior year, the business posted $0.73 earnings per share. Analysts anticipate that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 annualized dividend and a yield of 5.71%. AES’s dividend payout ratio (DPR) is presently 29.54%.

Wall Street Analyst Weigh In

AES has been the topic of a number of recent research reports. Susquehanna decreased their target price on AES from $16.00 to $15.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Barclays cut their price objective on AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. HSBC started coverage on shares of AES in a research report on Friday, December 13th. They issued a “buy” rating and a $17.00 target price on the stock. Mizuho reduced their price target on shares of AES from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Finally, Bank of America upgraded shares of AES from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $11.00 to $13.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.