Truist Financial Corp Sells 34,669 Shares of The AES Co. (NYSE:AES)

Truist Financial Corp reduced its stake in shares of The AES Co. (NYSE:AES - Free Report) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,448 shares of the utilities provider's stock after selling 34,669 shares during the quarter. Truist Financial Corp's holdings in AES were worth $997,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AES. State Street Corp boosted its position in shares of AES by 18.2% during the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider's stock worth $775,354,000 after purchasing an additional 5,960,546 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of AES by 30.3% in the third quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider's stock valued at $77,000,000 after buying an additional 892,500 shares during the period. Bridgewater Associates LP bought a new stake in shares of AES during the third quarter worth $17,390,000. M&G PLC lifted its position in AES by 12.7% in the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider's stock valued at $130,235,000 after acquiring an additional 732,457 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in AES by 53.0% in the 3rd quarter. HighTower Advisors LLC now owns 1,596,850 shares of the utilities provider's stock worth $32,031,000 after purchasing an additional 553,311 shares during the period. Institutional investors own 93.13% of the company's stock.

AES Stock Performance

NYSE AES traded down $0.41 during trading on Monday, reaching $11.18. The company's stock had a trading volume of 25,008,212 shares, compared to its average volume of 16,107,001. The firm has a 50 day moving average price of $11.51 and a 200 day moving average price of $14.52. The AES Co. has a 12 month low of $9.88 and a 12 month high of $22.21. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

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

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a yield of 6.30%. AES's payout ratio is 48.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AES shares. Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a "positive" rating for the company in a research note on Tuesday, November 5th. Barclays cut their price objective 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 Global Res raised AES to a "strong-buy" rating in a report on Friday, December 13th. HSBC initiated coverage on AES in a report on Friday, December 13th. They set a "buy" rating and a $17.00 price target for the company. Finally, Mizuho dropped their price objective on shares of AES from $24.00 to $16.00 and set an "outperform" rating on the stock in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.80.

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.