BI Asset Management Fondsmaeglerselskab A S Trims Holdings in The AES Corporation $AES

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in The AES Corporation by 94.5%, holding only 5,130 shares after selling 87,624 shares during the first quarter.
• Several institutional investors increased their stakes in AES, with Community Trust & Investment Co. raising its stake by 37.4%, while hedge funds and institutions collectively own 93.13% of the company's stock.
• AES reported earnings of $0.51 per share, beating estimates, but its revenue fell short of expectations at $2.86 billion, and the company has declared a quarterly dividend yielding 5.2%.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in The AES Corporation (NYSE:AES - Free Report) by 94.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,130 shares of the utilities provider's stock after selling 87,624 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in AES were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Community Trust & Investment Co. increased its stake in AES by 37.4% in the first quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider's stock worth $3,619,000 after purchasing an additional 79,355 shares during the period. Lewis Asset Management LLC purchased a new stake in AES in the first quarter worth $1,172,000. Principal Financial Group Inc. increased its stake in AES by 2.5% in the first quarter. Principal Financial Group Inc. now owns 824,080 shares of the utilities provider's stock worth $10,235,000 after purchasing an additional 20,109 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of AES by 13.3% during the first quarter. Envestnet Asset Management Inc. now owns 1,270,543 shares of the utilities provider's stock valued at $15,780,000 after buying an additional 148,772 shares during the period. Finally, Foundry Partners LLC increased its stake in shares of AES by 39.6% during the first quarter. Foundry Partners LLC now owns 1,349,118 shares of the utilities provider's stock valued at $16,756,000 after buying an additional 382,843 shares during the period. Hedge funds and other institutional investors own 93.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. HSBC cut their price target on AES from $15.00 to $14.00 in a research note on Monday, May 5th. Susquehanna raised their price target on AES from $15.00 to $16.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Jefferies Financial Group lowered AES from a "hold" rating to an "underperform" rating and cut their price target for the company from $10.00 to $9.00 in a research note on Tuesday, May 20th. Wall Street Zen upgraded AES from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on AES from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.67.

AES Price Performance

AES opened at $13.50 on Tuesday. The business's 50-day moving average is $12.43 and its two-hundred day moving average is $11.51. 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 current ratio of 0.82 and a quick ratio of 0.74. The firm has a market capitalization of $9.61 billion, a PE ratio of 9.51, a price-to-earnings-growth 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 the consensus estimate of $0.39 by $0.12. AES had a return on equity of 19.02% and a net margin of 8.42%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate 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. Stockholders of record on Friday, August 1st were paid a dividend of $0.176 per share. The ex-dividend date was Friday, August 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.2%. AES's payout ratio is presently 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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