Raiffeisen Bank International AG Trims Stock Position in The AES Corporation $AES

Key Points

• Raiffeisen Bank International AG cut its AES stake by 33.3% in the second quarter, selling 100,000 shares and retaining 200,000 shares valued at approximately $2.93 million. Institutional investors collectively own 93.13% of AES.
• AES reported quarterly earnings of $0.60 per share, surpassing the $0.45 analyst consensus, while revenue reached $3.42 billion versus estimates of $3.11 billion.
• The company maintained its quarterly dividend at $0.176 per share, equivalent to an annualized $0.70 payout and a 4.8% yield. Analysts have an overall “Hold” rating with a consensus price target of $15.71.

Raiffeisen Bank International AG reduced its stake in The AES Corporation (NYSE:AES - Free Report) by 33.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the utilities provider's stock after selling 100,000 shares during the quarter. Raiffeisen Bank International AG's holdings in AES were worth $2,926,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Root Financial Partners LLC lifted its holdings in shares of AES by 259.9% during the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider's stock worth $40,000 after purchasing an additional 2,038 shares during the period. Los Angeles Capital Management LLC purchased a new position in AES in the 4th quarter valued at $42,000. Burnham & Co LLC acquired a new position in AES in the 2nd quarter valued at $44,000. EverSource Wealth Advisors LLC raised its position in AES by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock worth $75,000 after buying an additional 2,006 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of AES in the 1st quarter worth $78,000. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Stock Up 0.1%

AES opened at $14.79 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The AES Corporation has a 12 month low of $12.33 and a 12 month high of $17.65. The stock has a market capitalization of $10.55 billion, a P/E ratio of 5.65 and a beta of 0.97. The business has a 50 day simple moving average of $14.74 and a 200-day simple moving average of $14.68.

AES (NYSE:AES - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.15. AES had a return on equity of 20.69% and a net margin of 14.30%.The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. On average, equities analysts anticipate that The AES Corporation will post 2.23 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, July 31st. AES's dividend payout ratio (DPR) is currently 26.72%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of AES from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.71.

About AES

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company's portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.

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