The AES Corporation $AES Shares Sold by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates cut its AES stake by 86.2% in the third quarter, selling 1.45 million shares and retaining 232,287 shares valued at approximately $3.46 million.
• Other institutional investors increased their AES holdings, and institutional ownership remains high at 93.13% of the company’s outstanding stock.
• AES reported quarterly EPS of $0.60, beating estimates of $0.45, and declared a quarterly dividend of $0.1759, equivalent to an annualized yield of about 4.7%. Analysts maintain a consensus “Hold” rating with a $15.83 price target.

Douglas Lane & Associates LLC trimmed its holdings in The AES Corporation (NYSE:AES - Free Report) by 86.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,287 shares of the utilities provider's stock after selling 1,451,545 shares during the quarter. Douglas Lane & Associates LLC's holdings in AES were worth $3,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in AES by 47.4% in the 3rd quarter. GAMMA Investing LLC now owns 49,985 shares of the utilities provider's stock valued at $745,000 after acquiring an additional 16,064 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in AES by 135.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 59,641 shares of the utilities provider's stock valued at $889,000 after acquiring an additional 34,341 shares during the period. CX Institutional boosted its holdings in AES by 31.3% in the third quarter. CX Institutional now owns 19,652 shares of the utilities provider's stock worth $293,000 after purchasing an additional 4,687 shares during the last quarter. QRG Capital Management Inc. raised its stake in AES by 14.7% during the 2nd quarter. QRG Capital Management Inc. now owns 15,480 shares of the utilities provider's stock valued at $227,000 after buying an additional 1,986 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of AES by 8.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 161,360 shares of the utilities provider's stock worth $2,366,000 after acquiring an additional 12,247 shares during the period. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Trading Down 0.0%

NYSE AES opened at $14.93 on Friday. The company's 50-day simple moving average is $14.80 and its two-hundred day simple moving average is $14.64. The AES Corporation has a one year low of $13.21 and a one year high of $17.65. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 5.70 and a beta of 0.97. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. Equities analysts forecast that The AES Corporation will post 2.02 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.1759 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. AES's payout ratio is 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 research report on Monday, August 17th. Seven analysts have rated the stock with a Hold rating. Based on data from MarketBeat, AES currently has an average rating of "Hold" and a consensus target price of $15.83.

AES Profile

AES Corporation is a global energy company that develops, owns and operates electricity generation and utility businesses. Its activities include renewable energy, natural gas-fired generation, battery energy storage and other energy infrastructure, as well as the distribution of electricity to customers through regulated utility operations.

The company serves residential, commercial and industrial customers in the United States and international markets, including countries in Latin America.

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