Truist Financial Corp Sells 708 Shares of The AES Co. (NYSE:AES)

Truist Financial Corp cut its holdings in shares of The AES Co. (NYSE:AES) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 105,256 shares of the utilities provider’s stock after selling 708 shares during the period. Truist Financial Corp’s holdings in AES were worth $2,403,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC lifted its holdings in AES by 5.2% during the second quarter. Brighton Jones LLC now owns 9,995 shares of the utilities provider’s stock worth $261,000 after acquiring an additional 495 shares in the last quarter. Wellington Shields & Co. LLC lifted its holdings in AES by 4.7% during the second quarter. Wellington Shields & Co. LLC now owns 11,186 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 500 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of AES by 2.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 21,026 shares of the utilities provider’s stock valued at $480,000 after purchasing an additional 503 shares during the period. CWM Advisors LLC raised its stake in shares of AES by 3.6% in the 2nd quarter. CWM Advisors LLC now owns 17,500 shares of the utilities provider’s stock valued at $456,000 after purchasing an additional 601 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of AES by 1.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 35,396 shares of the utilities provider’s stock valued at $808,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 93.14% of the company’s stock.

In other AES news, CEO Andres Gluski sold 524,511 shares of the firm’s stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $23.78, for a total transaction of $12,472,871.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.59% of the company’s stock.

Several analysts have issued reports on AES shares. The Goldman Sachs Group started coverage on AES in a research note on Monday, November 29th. They issued a “buy” rating and a $30.00 price target on the stock. TheStreet raised AES from a “c” rating to a “b” rating in a research note on Monday, December 6th. Finally, Morgan Stanley lifted their price target on AES from $31.50 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, January 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, AES has a consensus rating of “Buy” and an average target price of $30.17.

NYSE:AES opened at $23.06 on Friday. The company has a debt-to-equity ratio of 3.92, a quick ratio of 1.10 and a current ratio of 1.22. The stock’s 50-day simple moving average is $24.03 and its 200 day simple moving average is $24.28. The company has a market cap of $15.37 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.69 and a beta of 0.85. The AES Co. has a 52-week low of $22.60 and a 52-week high of $29.07.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, November 4th. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. AES had a return on equity of 29.19% and a net margin of 3.99%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business earned $0.42 earnings per share. As a group, equities analysts predict that The AES Co. will post 1.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Tuesday, February 1st will be issued a dividend of $0.158 per share. This is an increase from AES’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, January 31st. This represents a $0.63 annualized dividend and a yield of 2.74%. AES’s dividend payout ratio (DPR) is currently 77.92%.

About AES

AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU and Corporate and Other.

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Institutional Ownership by Quarter for AES (NYSE:AES)

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