Avenir Corp Trims Stock Position in The AES Corporation $AES

Key Points

• Avenir Corp reduced its stake in The AES Corporation by 5.1%, now holding approximately 734,495 shares valued at $9.12 million, which constitutes 1.0% of its investment portfolio.
• AES's recent earnings report indicated an EPS of $0.51, surpassing analysts’ estimates, while the firm reported a 3.0% decline in revenue year-over-year.
• The dividend yield for AES is currently at 5.3%, with a recently declared quarterly dividend of $0.176 per share.

Avenir Corp cut its stake in shares of The AES Corporation (NYSE:AES - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 734,495 shares of the utilities provider's stock after selling 39,733 shares during the period. AES makes up 1.0% of Avenir Corp's investment portfolio, making the stock its 21st biggest holding. Avenir Corp owned 0.10% of AES worth $9,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its position in AES by 79.5% during the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock worth $35,000 after purchasing an additional 1,201 shares during the period. Garde Capital Inc. acquired a new position in AES during the 1st quarter worth approximately $35,000. Headlands Technologies LLC acquired a new position in AES during the 1st quarter worth approximately $40,000. CVA Family Office LLC increased its position in AES by 200.6% during the 1st quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock worth $40,000 after purchasing an additional 2,169 shares during the period. Finally, McIlrath & Eck LLC increased its position in AES by 760.4% during the 4th quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider's stock worth $43,000 after purchasing an additional 2,958 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AES shares. Barclays boosted their target price on AES from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Argus reiterated a "hold" rating on shares of AES in a research report on Tuesday, May 27th. JPMorgan Chase & Co. upped their price target on AES from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Susquehanna upped their price target on AES from $15.00 to $16.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Finally, HSBC lowered their price target on AES from $15.00 to $14.00 in a report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $24.67.

AES Price Performance

AES stock opened at $13.37 on Wednesday. The AES Corporation has a 1 year low of $9.46 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.74 and a current ratio of 0.82. The stock's 50 day moving average price is $12.49 and its 200 day moving average price is $11.52. The firm has a market cap of $9.52 billion, a P/E ratio of 9.41, a PEG ratio of 1.62 and a beta of 0.96.

AES (NYSE:AES - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.12. AES had a return on equity of 19.02% and a net margin of 8.42%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the company earned $0.38 EPS. AES's revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts expect that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, August 1st. AES's dividend payout ratio is currently 49.30%.

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.

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