Levin Capital Strategies L.P. Reduces Position in The AES Co. (NYSE:AES)

Levin Capital Strategies L.P. cut its position in The AES Co. (NYSE:AES - Free Report) by 61.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,726 shares of the utilities provider's stock after selling 625,634 shares during the quarter. Levin Capital Strategies L.P. owned 0.06% of AES worth $7,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA lifted its position in shares of AES by 68.8% in the 4th quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider's stock worth $51,000 after purchasing an additional 1,088 shares during the period. Allworth Financial LP lifted its position in shares of AES by 133.7% during the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 1,779 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of AES by 57.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,550 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 1,300 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of AES by 267.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider's stock valued at $69,000 after acquiring an additional 2,611 shares during the period. Finally, CX Institutional acquired a new position in shares of AES during the 4th quarter valued at $70,000. 93.13% of the stock is owned by institutional investors.

AES Stock Performance

AES traded up $0.76 during trading on Thursday, hitting $18.93. 10,576,186 shares of the company traded hands, compared to its average volume of 8,277,510. The firm has a market cap of $13.46 billion, a P/E ratio of 57.09 and a beta of 1.08. The stock's fifty day moving average is $16.61 and its 200 day moving average is $16.93. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 4.42. The AES Co. has a one year low of $11.43 and a one year high of $23.07.

AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.36 billion. AES had a net margin of 2.12% and a return on equity of 38.76%. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, equities analysts predict that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a yield of 3.65%. AES's payout ratio is currently 209.10%.

Analysts Set New Price Targets

AES has been the topic of several research reports. Barclays lowered their price objective on shares of AES from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 14th. Morgan Stanley restated an "overweight" rating and set a $25.00 price objective on shares of AES in a report on Monday, March 25th. Royal Bank of Canada restated an "outperform" rating and set a $22.00 price objective on shares of AES in a report on Tuesday, April 9th. UBS Group reduced their target price on shares of AES from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 3rd. Finally, Mizuho initiated coverage on shares of AES in a research note on Thursday, April 18th. They issued a "buy" rating and a $21.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, AES has an average rating of "Moderate Buy" and a consensus price target of $22.13.

AES Company 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.