Herndon Capital Management LLC lowered its position in The AES Corp. (NYSE:AES) by 26.4% during the third quarter, Holdings Channel reports. The institutional investor owned 6,144,114 shares of the company’s stock after selling 2,208,166 shares during the period. The AES Corp. accounts for approximately 3.9% of Herndon Capital Management LLC’s investment portfolio, making the stock its largest position. Herndon Capital Management LLC’s holdings in The AES Corp. were worth $78,952,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Personal Capital Advisors Corp boosted its position in The AES Corp. by 11.4% in the second quarter. Personal Capital Advisors Corp now owns 1,644,686 shares of the company’s stock worth $20,526,000 after buying an additional 167,691 shares in the last quarter. Quantitative Investment Management LLC bought a new position in The AES Corp. during the second quarter worth $1,436,000. Silvercrest Asset Management Group LLC bought a new position in The AES Corp. during the first quarter worth $142,000. Exxonmobil Investment Management Inc. TX boosted its position in The AES Corp. by 6.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 170,583 shares of the company’s stock worth $2,129,000 after buying an additional 9,954 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in The AES Corp. by 8.0% in the first quarter. Nuveen Asset Management LLC now owns 207,691 shares of the company’s stock worth $2,450,000 after buying an additional 15,311 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
Shares of The AES Corp. (NYSE:AES) opened at 11.34 on Friday. The stock’s 50 day moving average is $11.73 and its 200-day moving average is $11.96. The AES Corp. has a 12-month low of $8.22 and a 12-month high of $13.32. The stock’s market cap is $7.48 billion.
The AES Corp. (NYSE:AES) last released its quarterly earnings results on Friday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.01. The firm had revenue of $209.90 billion for the quarter, compared to analyst estimates of $3.15 billion. The AES Corp. had a positive return on equity of 14.01% and a negative net margin of 1.95%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS. Equities analysts anticipate that The AES Corp. will post $0.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Friday, October 28th. The AES Corp.’s dividend payout ratio (DPR) is presently -107.31%.
AES has been the subject of a number of research reports. Zacks Investment Research lowered shares of The AES Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Barclays PLC lowered shares of The AES Corp. from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $14.00 to $12.00 in a report on Tuesday, October 4th. TheStreet lowered shares of The AES Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Bank of America Corp. lowered shares of The AES Corp. from a “neutral” rating to an “underperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.00.
The AES Corp. Company Profile
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.