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PNC Financial Services Group Inc. lowered its holdings in The AES Co. (NYSE:AES – Free Report) by 19.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of AES. Stephens Inc. AR lifted its stake in shares of AES by 67.1% in the fourth quarter. Stephens Inc. AR now owns 332,012 shares of the utilities provider’s stock valued at $4,273,000 after buying an additional 133,308 shares during the period. UMB Bank n.a. lifted its position in shares of AES by 5,143.7% in the 4th quarter. UMB Bank n.a. now owns 76,977 shares of the utilities provider’s stock worth $991,000 after acquiring an additional 75,509 shares during the period. Rock Point Advisors LLC grew its holdings in shares of AES by 34.6% during the 3rd quarter. Rock Point Advisors LLC now owns 760,775 shares of the utilities provider’s stock worth $15,261,000 after purchasing an additional 195,460 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd bought a new stake in AES in the 4th quarter valued at $489,000. Finally, Leibman Financial Services Inc. bought a new stake in AES in the fourth quarter valued at about $2,375,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.
AES Stock Performance
Shares of AES stock opened at $12.32 on Friday. The firm has a fifty day moving average of $11.23 and a two-hundred day moving average of $14.12. 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 stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.82 and a beta of 0.94. The AES Co. has a 52 week low of $9.88 and a 52 week high of $22.21.
AES (NYSE:AES – Get Free Report) last released its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. As a group, equities research analysts predict that The AES Co. will post 1.93 EPS for the current year.
AES Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.176 dividend. The ex-dividend date is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.71%. AES’s payout ratio is presently 29.54%.
Analysts Set New Price Targets
Several equities analysts recently commented on AES shares. Mizuho cut their target price on AES from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Susquehanna lowered 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. Hsbc Global Res upgraded shares of AES to a “strong-buy” rating in a research report on Friday, December 13th. Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $11.00 to $13.00 in a report on Tuesday, March 4th. Finally, HSBC assumed coverage on AES in a report on Friday, December 13th. They set a “buy” rating and a $17.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.30.
AES Profile
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.
See Also
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