Pictet Asset Management Ltd. trimmed its holdings in AES Corp (NYSE:AES) by 25.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,051,615 shares of the utilities provider’s stock after selling 1,020,209 shares during the quarter. Pictet Asset Management Ltd.’s holdings in AES were worth $42,723,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in AES. O Shaughnessy Asset Management LLC purchased a new position in shares of AES in the third quarter worth $100,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of AES in the third quarter worth $121,000. Creative Planning purchased a new position in shares of AES in the third quarter worth $141,000. Gideon Capital Advisors Inc. purchased a new position in AES during the 2nd quarter valued at $142,000. Finally, Wedbush Securities Inc. purchased a new position in AES during the 2nd quarter valued at $152,000. Hedge funds and other institutional investors own 97.33% of the company’s stock.
A number of brokerages have issued reports on AES. ValuEngine raised shares of AES from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, October 10th. TheStreet raised shares of AES from a “c+” rating to a “b” rating in a research report on Tuesday, November 6th. Finally, Morgan Stanley boosted their price objective on shares of AES from $13.50 to $14.00 and gave the company a “hold” rating in a research report on Friday, September 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.00.
Shares of AES stock opened at $15.49 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.10 and a debt-to-equity ratio of 3.17. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.52 and a beta of 0.97. AES Corp has a 12-month low of $9.86 and a 12-month high of $16.28.
AES (NYSE:AES) last issued its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.63 billion. AES had a negative net margin of 2.48% and a positive return on equity of 19.50%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, analysts forecast that AES Corp will post 1.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Wednesday, October 31st. AES’s payout ratio is currently 48.15%.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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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