The AES Corporation $AES Stock: Lmcg Investments LLC Cuts Stake

Key Points

• Lmcg Investments LLC cut its AES stake by 32.4% in the third quarter, selling 159,576 shares and retaining 332,661 shares valued at approximately $4.96 million.
• Institutional investors own 93.13% of AES, while analysts maintain a consensus “Hold” rating with an average price target of $15.83.
• AES reported quarterly EPS of $0.60, exceeding estimates of $0.45, and declared a quarterly dividend of $0.1759 per share, representing a 4.7% annualized yield.

Lmcg Investments LLC reduced its position in The AES Corporation (NYSE:AES - Free Report) by 32.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 332,661 shares of the utilities provider's stock after selling 159,576 shares during the quarter. Lmcg Investments LLC's holdings in AES were worth $4,957,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC grew its stake in shares of AES by 2,444.4% during the second quarter. Anchor Investment Management LLC now owns 2,290 shares of the utilities provider's stock valued at $34,000 after buying an additional 2,200 shares during the last quarter. Core Capital Management & Research inc. purchased a new stake in shares of AES in the second quarter worth approximately $37,000. Root Financial Partners LLC lifted its stake in shares of AES by 259.9% during the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider's stock worth $40,000 after acquiring an additional 2,038 shares during the last quarter. Burnham & Co LLC bought a new stake in shares of AES during the 2nd quarter worth approximately $44,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 2,006 shares during the last quarter. Institutional investors own 93.13% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised AES from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Seven equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, AES currently has a consensus rating of "Hold" and a consensus price target of $15.83.

AES Stock Performance

Shares of NYSE:AES opened at $14.96 on Thursday. The firm's 50 day simple moving average is $14.84 and its 200-day simple moving average is $14.69. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The AES Corporation has a one year low of $13.21 and a one year high of $17.65. The firm has a market cap of $10.67 billion, a PE ratio of 5.71 and a beta of 0.97.

AES (NYSE:AES - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.11 billion. As a group, equities analysts predict that The AES Corporation will post 2.02 EPS for the current year.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.1759 per share. The ex-dividend date is Friday, October 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. AES's dividend payout ratio (DPR) is currently 26.72%.

AES Company Profile

AES Corporation is a global energy company that develops, owns and operates power generation and utility businesses. Its activities include generating and supplying electricity, developing renewable energy projects, and providing energy infrastructure and related services.

The company's portfolio includes solar, wind, battery energy storage and hydroelectric facilities, as well as natural gas-fired generation and other conventional power assets. AES also works with businesses and other energy users to provide customized clean-energy solutions, including renewable power procurement and storage.

Founded in 1981 as Applied Energy Services, AES serves customers through operations and projects in the United States and international markets across North and South America, Europe and Asia.

Want to see what other hedge funds are holding AES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The AES Corporation (NYSE:AES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.