The AES Co. (NYSE:AES) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in The AES Co. (NYSE:AES) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,567 shares of the utilities provider’s stock after selling 17,575 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AES were worth $2,378,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AES. Rothschild Investment LLC acquired a new position in AES in the second quarter valued at about $28,000. UMB Bank n.a. lifted its position in AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares during the last quarter. nVerses Capital LLC acquired a new position in AES in the second quarter valued at about $33,000. Cromwell Holdings LLC increased its stake in AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares during the period. Finally, Crewe Advisors LLC increased its stake in AES by 183.8% during the second quarter. Crewe Advisors LLC now owns 3,023 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 1,958 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AES shares. Mizuho cut their price target on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Jefferies Financial Group initiated coverage on shares of AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. Bank of America initiated coverage on shares of AES in a research note on Monday, November 25th. They set an “underperform” rating and a $11.00 target price on the stock. Barclays upped their target price on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.22.

AES Stock Performance

Shares of AES stock opened at $13.43 on Thursday. The firm has a market capitalization of $9.55 billion, a P/E ratio of 9.33, a P/E/G ratio of 0.68 and a beta of 1.01. The AES Co. has a 52 week low of $12.53 and a 52 week high of $22.21. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The firm’s 50 day moving average is $15.87 and its two-hundred day moving average is $17.49.

AES (NYSE:AES) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Research analysts forecast that The AES Co. will post 1.95 EPS for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Friday, November 1st. AES’s payout ratio is currently 47.92%.

About AES

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.