Truist Financial Corp Has $4.82 Million Holdings in The AES Co. (NYSE:AES)

Truist Financial Corp trimmed its position in shares of The AES Co. (NYSE:AES) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,211 shares of the utilities provider’s stock after selling 31,694 shares during the period. Truist Financial Corp’s holdings in AES were worth $4,817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA boosted its stake in AES by 68.8% during the 4th quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 1,088 shares during the period. Allworth Financial LP boosted its position in shares of AES by 133.7% in the fourth quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 1,779 shares during the period. EverSource Wealth Advisors LLC increased its position in AES by 57.8% during the third quarter. EverSource Wealth Advisors LLC now owns 3,550 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 1,300 shares during the period. Parkside Financial Bank & Trust raised its stake in AES by 267.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 2,611 shares during the last quarter. Finally, CX Institutional bought a new stake in AES in the 4th quarter valued at $70,000. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Price Performance

Shares of AES stock opened at $18.67 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 4.42. The firm’s 50 day moving average is $16.73 and its 200-day moving average is $17.02. The AES Co. has a 1 year low of $11.43 and a 1 year high of $23.07. The firm has a market capitalization of $13.27 billion, a price-to-earnings ratio of 25.93 and a beta of 1.08.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.20 billion. AES had a return on equity of 39.82% and a net margin of 4.40%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. Sell-side analysts forecast that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Tuesday, April 30th. AES’s dividend payout ratio is presently 95.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AES shares. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of AES in a research note on Monday, March 25th. UBS Group lowered their price objective on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Argus restated a “buy” rating and issued a $25.00 price objective on shares of AES in a research note on Tuesday, March 26th. Finally, Mizuho began coverage on shares of AES in a research report on Thursday, April 18th. They set a “buy” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.13.

AES Company Profile

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.