Perigon Wealth Management LLC Sells 3,452 Shares of The AES Co. (NYSE:AES)

Perigon Wealth Management LLC lowered its stake in The AES Co. (NYSE:AES) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,520 shares of the utilities provider’s stock after selling 3,452 shares during the quarter. Perigon Wealth Management LLC’s holdings in The AES were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AES. Mercer Global Advisors Inc. ADV acquired a new position in The AES during the 4th quarter worth approximately $241,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in The AES by 109.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,235 shares of the utilities provider’s stock worth $241,000 after buying an additional 5,356 shares during the period. LPL Financial LLC lifted its stake in shares of The AES by 7.6% in the fourth quarter. LPL Financial LLC now owns 292,265 shares of the utilities provider’s stock valued at $6,868,000 after buying an additional 20,619 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of The AES by 255.6% in the fourth quarter. Federated Hermes Inc. now owns 17,137 shares of the utilities provider’s stock valued at $403,000 after buying an additional 12,318 shares in the last quarter. Finally, Allstate Corp bought a new position in shares of The AES in the fourth quarter valued at $224,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of AES stock opened at $24.36 on Thursday. The AES Co. has a 52-week low of $14.83 and a 52-week high of $29.07. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 3.97. The stock has a 50-day moving average price of $25.45. The company has a market cap of $16.23 billion, a P/E ratio of -65.84, a price-to-earnings-growth ratio of 1.91 and a beta of 0.82.

The AES (NYSE:AES) last announced its earnings results on Wednesday, May 5th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The AES had a negative net margin of 2.47% and a positive return on equity of 26.18%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts predict that The AES Co. will post 1.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Monday, August 2nd will be given a dividend of $0.1505 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, July 30th. The AES’s dividend payout ratio is presently 41.67%.

A number of research firms have weighed in on AES. TheStreet lowered shares of The AES from a “b-” rating to a “c” rating in a research note on Thursday, May 6th. Susquehanna started coverage on The AES in a research report on Monday, June 21st. They set a “positive” rating and a $32.00 target price on the stock. Morgan Stanley cut their target price on The AES from $30.50 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 18th. Finally, Susquehanna Bancshares started coverage on The AES in a research report on Monday, June 21st. They set a “positive” rating and a $32.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating, The AES presently has an average rating of “Buy” and an average price target of $30.00.

The AES Company Profile

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.

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Institutional Ownership by Quarter for The AES (NYSE:AES)

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