Evergreen Capital Management LLC Lowers Holdings in The AES Co. (NYSE:AES)

Evergreen Capital Management LLC decreased its holdings in The AES Co. (NYSE:AES) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,727 shares of the utilities provider’s stock after selling 35,326 shares during the quarter. Evergreen Capital Management LLC owned approximately 0.06% of AES worth $7,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rise Advisors LLC lifted its stake in shares of AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of AES in the 2nd quarter valued at about $28,000. UMB Bank n.a. lifted its stake in shares of AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 898 shares in the last quarter. Riverview Trust Co acquired a new position in shares of AES in the 1st quarter valued at about $33,000. Finally, nVerses Capital LLC acquired a new position in shares of AES in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AES shares. Barclays reduced their price target on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group started coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.50.

AES Price Performance

Shares of NYSE AES opened at $18.90 on Monday. The AES Co. has a twelve month low of $11.43 and a twelve month high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 26.25 and a beta of 1.07. The business has a 50 day simple moving average of $17.40 and a 200-day simple moving average of $18.04.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. As a group, equities research analysts expect that The AES Co. will post 1.91 earnings per share for the current year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. AES’s payout ratio is currently 95.83%.

AES Company 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.