Korea Investment CORP Sells 146,939 Shares of The AES Co. (NYSE:AES)

Korea Investment CORP trimmed its stake in shares of The AES Co. (NYSE:AES - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 716,566 shares of the utilities provider's stock after selling 146,939 shares during the period. Korea Investment CORP owned about 0.10% of AES worth $9,222,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AES. State Street Corp lifted its holdings in shares of AES by 18.2% in the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider's stock valued at $775,354,000 after purchasing an additional 5,960,546 shares in the last quarter. Sound Shore Management Inc. CT bought a new stake in AES in the 4th quarter valued at approximately $69,083,000. Raymond James Financial Inc. acquired a new position in AES during the 4th quarter worth approximately $33,964,000. Two Sigma Advisers LP grew its stake in shares of AES by 30.3% during the 3rd quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider's stock worth $77,000,000 after acquiring an additional 892,500 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of AES by 53.0% in the third quarter. HighTower Advisors LLC now owns 1,596,850 shares of the utilities provider's stock valued at $32,031,000 after purchasing an additional 553,311 shares during the last quarter. 93.13% of the stock is owned by institutional investors.

AES Stock Performance

Shares of AES stock traded down $1.14 during trading on Friday, reaching $10.77. 19,554,240 shares of the company's stock were exchanged, compared to its average volume of 11,105,718. The firm's fifty day moving average price is $11.39 and its 200-day moving average price is $13.60. The AES Co. has a twelve month low of $9.88 and a twelve month high of $22.21. The stock has a market capitalization of $7.66 billion, a PE 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.

Remove Ads

AES (NYSE:AES - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.20. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.07 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. During the same quarter in the prior year, the business earned $0.73 EPS. As a group, sell-side analysts anticipate that The AES Co. will post 1.93 EPS for the current year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 6.54%. AES's dividend payout ratio is presently 29.54%.

Analysts Set New Price Targets

AES has been the subject of a number of analyst reports. Bank of America raised shares of AES from an "underperform" rating to a "neutral" rating and raised their target price for the company from $11.00 to $13.00 in a research report on Tuesday, March 4th. Seaport Res Ptn downgraded AES from a "hold" rating to a "strong sell" rating in a research report on Monday, March 3rd. Barclays reduced their price target on AES from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. HSBC assumed coverage on AES in a research report on Friday, December 13th. They set a "buy" rating and a $17.00 price target on the stock. Finally, Susquehanna cut their price objective on AES from $16.00 to $15.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AES currently has an average rating of "Moderate Buy" and an average target price of $16.29.

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.