Thoroughbred Financial Services LLC Sells 1,206 Shares of The AES Co. (NYSE:AES)

Thoroughbred Financial Services LLC lowered its stake in shares of The AES Co. (NYSE:AES) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,771 shares of the utilities provider’s stock after selling 1,206 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in AES were worth $267,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AES. Investment Management Corp of Ontario increased its stake in shares of AES by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 23,547 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 7,700 shares during the last quarter. IHT Wealth Management LLC bought a new position in AES during the third quarter valued at $306,000. Quantinno Capital Management LP increased its position in AES by 6.4% in the third quarter. Quantinno Capital Management LP now owns 73,066 shares of the utilities provider’s stock worth $1,466,000 after buying an additional 4,389 shares during the last quarter. Stifel Financial Corp lifted its position in shares of AES by 3.0% during the 3rd quarter. Stifel Financial Corp now owns 288,647 shares of the utilities provider’s stock valued at $5,790,000 after buying an additional 8,294 shares during the last quarter. Finally, State Street Corp grew its stake in shares of AES by 18.2% during the 3rd quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock worth $775,354,000 after acquiring an additional 5,960,546 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $10.77 on Monday. The business has a 50-day simple moving average of $11.39 and a 200 day simple moving average of $13.56. The AES Co. has a 52 week low of $9.88 and a 52 week high of $22.21. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.82 and a beta of 0.81. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last posted its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.20. AES had a net margin of 8.34% and a return on equity of 27.30%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the business earned $0.73 earnings per share. On average, research analysts forecast that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $0.176 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 annualized dividend and a yield of 6.54%. AES’s dividend payout ratio (DPR) is presently 29.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AES shares. Mizuho dropped their price objective on shares of AES from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $11.00 to $13.00 in a report on Tuesday, March 4th. HSBC began coverage on shares of AES in a report on Friday, December 13th. They set a “buy” rating and a $17.00 target price on the stock. Hsbc Global Res raised AES to a “strong-buy” rating in a report on Friday, December 13th. Finally, Barclays decreased their price objective on AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.29.

AES 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.