The AES Corporation $AES Stock Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. cut its AES position by 39.5% in the third quarter, selling 75,298 shares and retaining 115,509 shares worth approximately $1.72 million.
• Despite the sale, institutional ownership remains high at 93.13%, with BlackRock, HBK Investments, Bank of New York Mellon and Bank of America among investors establishing new positions.
• AES reported quarterly EPS of $0.60, exceeding estimates of $0.45, and announced a quarterly dividend of $0.1759, representing a 4.7% annualized yield. Analysts maintain a consensus “Hold” rating with a $15.83 price target.

First Citizens Bank & Trust Co. decreased its position in The AES Corporation (NYSE:AES - Free Report) by 39.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,509 shares of the utilities provider's stock after selling 75,298 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in AES were worth $1,721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in AES in the 2nd quarter worth about $722,429,000. HBK Investments L P purchased a new position in shares of AES in the 2nd quarter worth approximately $162,298,000. SG Americas Securities LLC boosted its stake in shares of AES by 99.8% in the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider's stock worth $201,215,000 after buying an additional 7,133,230 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of AES in the 2nd quarter worth approximately $97,056,000. Finally, Bank of America Corp DE bought a new position in shares of AES in the second quarter valued at approximately $80,584,000. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Stock Down 0.0%

AES opened at $14.96 on Friday. The company has a 50 day moving average of $14.82 and a 200 day moving average of $14.67. The company has a market cap of $10.67 billion, a PE ratio of 5.71 and a beta of 0.97. The AES Corporation has a 12 month low of $13.21 and a 12 month high of $17.65. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93.

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, topping analysts' consensus estimates of $0.45 by $0.15. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. On average, sell-side analysts expect that The AES Corporation will post 2.02 EPS for the current year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a $0.1759 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, October 30th. AES's dividend payout ratio (DPR) is 26.72%.

Analyst Ratings Changes

Separately, Weiss Ratings raised AES from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Seven investment 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 Company 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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