Amalgamated Bank reduced its stake in shares of The AES Co. (NYSE:AES – Get Rating) by 6.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 166,675 shares of the utilities provider’s stock after selling 11,915 shares during the period. Amalgamated Bank’s holdings in AES were worth $4,289,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Credit Agricole S A increased its holdings in AES by 15.0% during the 4th quarter. Credit Agricole S A now owns 4,063 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 529 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in AES by 7.2% during the 1st quarter. Coldstream Capital Management Inc. now owns 8,879 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 600 shares in the last quarter. Marcum Wealth LLC increased its holdings in AES by 6.0% during the 1st quarter. Marcum Wealth LLC now owns 10,922 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 614 shares in the last quarter. CIBC Asset Management Inc increased its holdings in AES by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 65,296 shares of the utilities provider’s stock worth $1,680,000 after purchasing an additional 627 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in AES by 17.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,231 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 638 shares in the last quarter. 95.25% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on AES shares. Morgan Stanley boosted their price objective on AES from $29.50 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 18th. StockNews.com lowered AES from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.00.
AES Price Performance
AES (NYSE:AES – Get Rating) last posted its quarterly earnings data on Friday, August 5th. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.47 billion. AES had a positive return on equity of 32.93% and a negative net margin of 2.64%. AES’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. Sell-side analysts forecast that The AES Co. will post 1.61 EPS for the current year.
AES Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 1st were given a dividend of $0.158 per share. The ex-dividend date was Friday, July 29th. This represents a $0.63 annualized dividend and a dividend yield of 2.44%. AES’s dividend payout ratio is currently -108.62%.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
- Get a free copy of the StockNews.com research report on AES (AES)
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