The AES Co. (NYSE:AES) Stock Position Cut by Clearstead Trust LLC

Clearstead Trust LLC trimmed its stake in shares of The AES Co. (NYSE:AES) by 54.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,751 shares of the utilities provider’s stock after selling 38,667 shares during the quarter. Clearstead Trust LLC’s holdings in AES were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AES. Private Trust Co. NA lifted its position in AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,088 shares during the period. Allworth Financial LP grew its holdings in AES by 133.7% during the fourth quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,779 shares during the period. EverSource Wealth Advisors LLC lifted its stake in AES by 57.8% during the third quarter. EverSource Wealth Advisors LLC now owns 3,550 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,300 shares during the last quarter. Parkside Financial Bank & Trust grew its position in AES by 267.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock worth $69,000 after buying an additional 2,611 shares during the last quarter. Finally, CX Institutional bought a new position in shares of AES in the fourth quarter valued at $70,000. 93.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AES. UBS Group cut their target price on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of AES in a report on Monday, March 25th. Mizuho assumed coverage on shares of AES in a report on Thursday, April 18th. They set a “buy” rating and a $21.00 price target on the stock. Argus reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AES in a research note on Tuesday, March 26th. Finally, Barclays reduced their target price on AES from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.13.

AES Stock Down 1.4 %

Shares of NYSE AES traded down $0.26 during mid-day trading on Friday, reaching $18.67. The company had a trading volume of 11,127,623 shares, compared to its average volume of 7,577,789. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.61 and a current ratio of 0.68. The AES Co. has a twelve month low of $11.43 and a twelve month high of $23.07. The stock’s 50 day moving average is $16.73 and its 200-day moving average is $16.97. The stock has a market capitalization of $13.27 billion, a PE ratio of 25.93 and a beta of 1.08.

AES (NYSE:AES) last issued its earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.36 billion. AES had a return on equity of 39.82% and a net margin of 4.40%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. As a group, equities analysts anticipate that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, April 30th. AES’s payout ratio is 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.