Clearbridge Lowers stake in AES Corp (AES)

AES Corp (AES) : Clearbridge reduced its stake in AES Corp by 6.81% during the most recent quarter end. The investment management company now holds a total of 11,634,989 shares of AES Corp which is valued at $130,544,577 after selling 850,830 shares in AES Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.AES Corp makes up approximately 2.43% of Clearbridge’s portfolio.

Other Hedge Funds, Including , Mason Street Advisors boosted its stake in AES in the latest quarter, The investment management firm added 397 additional shares and now holds a total of 89,161 shares of AES Corp which is valued at $1,000,386. AES Corp makes up approx 0.03% of Mason Street Advisors’s portfolio. Whittier Trust Co sold out all of its stake in AES during the most recent quarter. The investment firm sold 2,205 shares of AES which is valued $25,291.Blackrock Investment Management boosted its stake in AES in the latest quarter, The investment management firm added 120,779 additional shares and now holds a total of 9,995,059 shares of AES Corp which is valued at $124,038,682. AES Corp makes up approx 0.16% of Blackrock Investment Management’s portfolio.Herndon Capital Management reduced its stake in AES by selling 2,208,166 shares or 26.44% in the most recent quarter. The Hedge Fund company now holds 6,144,114 shares of AES which is valued at $76,248,455. AES Corp makes up approx 3.87% of Herndon Capital Management’s portfolio.Bank Of The West boosted its stake in AES in the latest quarter, The investment management firm added 6,309 additional shares and now holds a total of 57,172 shares of AES Corp which is valued at $666,054. AES Corp makes up approx 0.09% of Bank Of The West’s portfolio.

AES Corp closed down -0.03 points or -0.26% at $11.4 with 67,46,816 shares getting traded on Monday. Post opening the session at $11.42, the shares hit an intraday low of $11.38 and an intraday high of $11.67 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, AES Corp reported $0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 4, 2016. Analyst had a consensus of $0.33. The company had revenue of $3542.00 million for the quarter, compared to analysts expectations of $4548.36 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on AES Corp. Shares were Downgraded by Barclays on Oct 4, 2016 to ” Equal Weight” and Lowered the Price Target to $ 12 from a previous price target of $14 .

The AES Corporation (AES) is a holding company that operates a portfolio of electricity generation and distribution businesses. The Company is organized into six market-oriented Strategic Business Units (SBUs): the United States Andes (Chile Colombia and Argentina) Brazil MCAC (Mexico Central America and Caribbean) Europe (formerly EMEA) and Asia. Within these six SBUs the Company has two lines of business: generation and utilities. Under the generation business line the Company owns and operates power plants to generate and sell power to customers such as utilities industrial users and other intermediaries. Under the utilities business line the Company owns and operates utilities to generate or purchase distribute transmit and sell electricity to end-user customers in the residential commercial industrial and governmental sectors within a defined service area. Its utilities also generate and sell electricity on the wholesale market.

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