Shellback Capital LP Has $5.59 Million Stock Holdings in The AES Corporation $AES

Key Points

• Shellback Capital LP has reduced its stake in The AES Corporation by 25%, selling 150,000 shares and now holding 450,000 shares valued at approximately $5.6 million.
• Various institutional investors have increased their positions in AES, with Orbis Allan Gray Ltd and Invesco Ltd both expanding their holdings significantly in the first quarter of the year.
• Analysts have adjusted their price targets for AES, with Susquehanna raising it to $16.00 and JPMorgan to $15.00, reflecting a generally positive outlook despite Jefferies' downgrade to "underperform."

Shellback Capital LP lowered its holdings in The AES Corporation (NYSE:AES - Free Report) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 450,000 shares of the utilities provider's stock after selling 150,000 shares during the quarter. Shellback Capital LP owned about 0.06% of AES worth $5,589,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Garde Capital Inc. acquired a new position in shares of AES during the first quarter valued at $35,000. Headlands Technologies LLC acquired a new position in shares of AES during the first quarter valued at $40,000. CVA Family Office LLC lifted its stake in shares of AES by 200.6% during the first quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 2,169 shares during the period. McIlrath & Eck LLC lifted its stake in shares of AES by 760.4% during the fourth quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 2,958 shares during the period. Finally, Rothschild Investment LLC lifted its stake in shares of AES by 235.4% during the first quarter. Rothschild Investment LLC now owns 3,595 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 2,523 shares during the period. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Trading Up 0.4%

NYSE AES traded up $0.05 on Friday, reaching $12.90. The company had a trading volume of 5,348,118 shares, compared to its average volume of 14,893,465. The stock's 50 day moving average is $13.07 and its 200-day moving average is $11.74. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.52 and a beta of 0.92. The company has a quick ratio of 0.74, a current ratio of 0.82 and a debt-to-equity ratio of 3.46. The AES Corporation has a 52 week low of $9.46 and a 52 week high of $20.30.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.51 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 business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm's revenue was down 3.0% on a year-over-year basis. Equities analysts predict that The AES Corporation will post 1.93 earnings per share for the current year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $0.176 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.70 annualized dividend and a dividend yield of 5.5%. AES's payout ratio is currently 49.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna upped 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. JPMorgan Chase & Co. upped 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. Wall Street Zen raised AES from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. 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. Finally, Argus reiterated a "hold" rating on shares of AES in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.67.

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.