Chevy Chase Trust Holdings LLC Trims Stock Holdings in The AES Co. (NYSE:AES)

Chevy Chase Trust Holdings LLC lowered its stake in shares of The AES Co. (NYSE:AES) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,784 shares of the utilities provider’s stock after selling 5,886 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in AES were worth $7,679,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in AES in the 2nd quarter worth about $28,000. Cromwell Holdings LLC lifted its holdings in shares of AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares in the last quarter. UMB Bank n.a. boosted its position in shares of AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares during the period. nVerses Capital LLC bought a new stake in AES during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC lifted its stake in AES by 183.8% in the 2nd quarter. Crewe Advisors LLC now owns 3,023 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 1,958 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

AES has been the subject of several research analyst reports. Bank of America assumed coverage on AES in a research note on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective for the company. Mizuho decreased their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Barclays increased their price target on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group started coverage on AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.22.

AES Stock Performance

NYSE AES opened at $13.29 on Friday. The company has a 50-day simple moving average of $15.74 and a two-hundred day simple moving average of $17.46. The AES Co. has a 12-month low of $12.53 and a 12-month high of $22.21. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 0.68 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $0.60 EPS. AES’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that The AES Co. will post 1.95 EPS for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Friday, November 1st. AES’s dividend payout ratio (DPR) is presently 47.92%.

About AES

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.