Readystate Asset Management LP Cuts Holdings in The AES Corporation (NYSE:AES)

Readystate Asset Management LP lessened its holdings in The AES Corporation (NYSE:AES - Free Report) by 29.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,240 shares of the utilities provider's stock after selling 47,005 shares during the quarter. Readystate Asset Management LP's holdings in AES were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its holdings in AES by 79.5% in the fourth quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock valued at $35,000 after buying an additional 1,201 shares in the last quarter. Garde Capital Inc. purchased a new position in AES in the first quarter valued at about $35,000. CVA Family Office LLC increased its holdings in AES by 200.6% in the first quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock valued at $40,000 after buying an additional 2,169 shares in the last quarter. McIlrath & Eck LLC increased its holdings in AES by 760.4% in the fourth quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider's stock valued at $43,000 after buying an additional 2,958 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in AES by 235.4% in the first quarter. Rothschild Investment LLC now owns 3,595 shares of the utilities provider's stock valued at $45,000 after buying an additional 2,523 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AES has been the subject of a number of research analyst reports. Citigroup dropped their target price on shares of AES from $23.00 to $14.00 and set a "buy" rating for the company in a report on Friday, May 9th. Argus reaffirmed a "hold" rating on shares of AES in a report on Tuesday, May 27th. Wall Street Zen downgraded shares of AES from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Wells Fargo & Company upped their price target on shares of AES from $108.00 to $112.00 in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of AES from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.67.

AES Trading Down 0.0%

Shares of NYSE AES traded down $0.01 during midday trading on Friday, reaching $13.80. 7,837,142 shares of the stock were exchanged, compared to its average volume of 18,724,774. The company has a market capitalization of $9.82 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.86 and a beta of 0.95. The AES Corporation has a 52-week low of $9.46 and a 52-week high of $20.30. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 3.42. The stock has a 50 day moving average price of $11.36 and a 200-day moving average price of $11.25.

AES (NYSE:AES - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.10). The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $3.13 billion. AES had a return on equity of 18.06% and a net margin of 10.67%. The business's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. Equities research analysts expect that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.176 per share. The ex-dividend date is Friday, August 1st. This represents a $0.70 annualized dividend and a dividend yield of 5.10%. AES's payout ratio is currently 38.04%.

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.