Engineers Gate Manager LP Sells 413,091 Shares of The AES Corporation $AES

Engineers Gate Manager LP cut its holdings in The AES Corporation (NYSE:AES) by 66.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,639 shares of the utilities provider’s stock after selling 413,091 shares during the quarter. Engineers Gate Manager LP’s holdings in AES were worth $3,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC grew its position in AES by 259.9% during the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 2,038 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of AES during the fourth quarter valued at about $42,000. Burnham & Co LLC bought a new stake in shares of AES during the second quarter worth about $44,000. EverSource Wealth Advisors LLC increased its stake in shares of AES by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock valued at $75,000 after buying an additional 2,006 shares during the period. Finally, Sound Income Strategies LLC bought a new position in AES in the 1st quarter valued at approximately $78,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Price Performance

Shares of NYSE:AES opened at $14.79 on Monday. The AES Corporation has a twelve month low of $12.33 and a twelve month high of $17.65. The stock’s 50 day moving average is $14.76 and its 200-day moving average is $14.61. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 5.65 and a beta of 0.97.

AES (NYSE:AES) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. AES had a return on equity of 20.69% and a net margin of 14.30%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. Sell-side analysts forecast that The AES Corporation will post 2.23 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.176 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 annualized dividend and a yield of 4.8%. AES’s dividend payout ratio is presently 26.72%.

Analyst Ratings Changes

Separately, Weiss Ratings raised AES from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Eight investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, AES presently has a consensus rating of “Hold” and an average price target of $15.71.

AES Profile

The AES Corporation (NYSE: AES) is a global energy company that develops, owns and operates electricity generation and distribution businesses. Its portfolio includes renewable energy projects, natural gas and other power-generation facilities, battery energy storage systems, and utility operations. AES serves utilities, commercial and industrial customers, and other energy users through long-term power supply arrangements and related services.

The company has increasingly focused on renewable energy and energy infrastructure, including solar, wind and storage projects designed to support the transition to lower-carbon electricity systems.