First Allied Advisory Services Inc. Decreases Stock Position in AES Corp (NYSE:AES)

27 May 2020, 12:06 by Danessa Lincoln

First Allied Advisory Services Inc. lessened its position in AES Corp (NYSE:AES) by 58.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,587 shares of the utilities provider’s stock after selling 22,035 shares during the quarter. First Allied Advisory Services Inc.’s holdings in AES were worth $212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its position in shares of AES by 0.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 205,273 shares of the utilities provider’s stock valued at $2,792,000 after acquiring an additional 890 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of AES by 40.5% in the first quarter. AE Wealth Management LLC now owns 111,846 shares of the utilities provider’s stock valued at $1,521,000 after acquiring an additional 32,257 shares in the last quarter. ING Groep NV lifted its position in shares of AES by 296.9% in the first quarter. ING Groep NV now owns 180,747 shares of the utilities provider’s stock valued at $2,458,000 after acquiring an additional 135,209 shares in the last quarter. Russell Investments Group Ltd. lifted its position in AES by 42.0% during the first quarter. Russell Investments Group Ltd. now owns 263,611 shares of the utilities provider’s stock worth $3,586,000 after buying an additional 77,956 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in AES by 8.7% during the first quarter. Rhumbline Advisers now owns 1,150,971 shares of the utilities provider’s stock worth $15,653,000 after buying an additional 91,645 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

In other news, SVP Lisa Krueger acquired 3,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $10.99 per share, with a total value of $32,970.00. Following the completion of the purchase, the senior vice president now owns 33,718 shares of the company’s stock, valued at approximately $370,560.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Ubben acquired 500,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $11.67 per share, with a total value of $5,835,000.00. The disclosure for this purchase can be found here. Insiders bought 539,293 shares of company stock valued at $6,277,461 over the last ninety days. Insiders own 1.54% of the company’s stock.

A number of brokerages recently commented on AES. Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, April 13th. Bank of America upgraded AES from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Monday, March 30th. TheStreet upgraded AES from a “c” rating to a “b-” rating in a research report on Thursday, May 7th. Royal Bank of Canada upgraded AES from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from $22.00 to $18.00 in a research report on Thursday, April 2nd. Finally, Morgan Stanley lifted their price objective on AES from $17.50 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.75.

AES stock opened at $12.24 on Wednesday. The business has a fifty day moving average of $12.94 and a two-hundred day moving average of $16.92. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 4.00. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.02. AES Corp has a 52-week low of $8.11 and a 52-week high of $21.23.

AES (NYSE:AES) last posted its earnings results on Thursday, May 7th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.73 billion. AES had a return on equity of 23.42% and a net margin of 2.97%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts anticipate that AES Corp will post 1.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a $0.1433 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.68%. AES’s payout ratio is presently 41.91%.

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.