The AES Co. (NYSE:AES) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in The AES Co. (NYSE:AES) by 74.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,549 shares of the utilities provider’s stock after selling 57,674 shares during the period. Tidal Investments LLC’s holdings in AES were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale increased its stake in shares of AES by 161.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock worth $2,035,000 after purchasing an additional 66,145 shares in the last quarter. Rock Point Advisors LLC grew its holdings in AES by 34.6% during the 3rd quarter. Rock Point Advisors LLC now owns 760,775 shares of the utilities provider’s stock valued at $15,261,000 after buying an additional 195,460 shares during the last quarter. M&G PLC increased its position in AES by 12.7% during the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock worth $130,235,000 after buying an additional 732,457 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AES by 28.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 257,368 shares of the utilities provider’s stock worth $5,163,000 after acquiring an additional 56,879 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of AES by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after acquiring an additional 82,956 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Stock Performance

AES stock opened at $13.06 on Tuesday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The AES Co. has a 12 month low of $12.24 and a 12 month high of $22.21. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.02. The stock’s 50-day moving average is $14.40 and its 200-day moving average is $16.75.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the company posted $0.60 earnings per share. AES’s revenue was down 4.2% compared to the same quarter last year. Equities analysts anticipate that The AES Co. will post 1.95 earnings per share for the current year.

AES Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.176 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from AES’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 5.39%. AES’s dividend payout ratio (DPR) is 48.61%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AES. Bank of America started coverage on shares of AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price on the stock. HSBC started coverage on shares of AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 target price on the stock. Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Mizuho lowered their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Finally, Hsbc Global Res upgraded AES to a “strong-buy” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given 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 target price of $19.30.

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.