Wealth Enhancement Advisory Services LLC purchased a new stake in AES Corp (NYSE:AES) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,055 shares of the utilities provider’s stock, valued at approximately $1,161,000.
Several other hedge funds have also added to or reduced their stakes in AES. MERIAN GLOBAL INVESTORS UK Ltd grew its position in shares of AES by 361.8% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,673,591 shares of the utilities provider’s stock valued at $66,418,000 after purchasing an additional 2,878,179 shares during the last quarter. First Trust Advisors LP grew its position in shares of AES by 645.9% in the second quarter. First Trust Advisors LP now owns 2,360,961 shares of the utilities provider’s stock valued at $39,570,000 after purchasing an additional 2,044,426 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of AES by 40.6% in the first quarter. JPMorgan Chase & Co. now owns 5,478,822 shares of the utilities provider’s stock valued at $99,056,000 after purchasing an additional 1,582,707 shares during the last quarter. Polaris Greystone Financial Group LLC acquired a new stake in shares of AES in the second quarter valued at approximately $24,205,000. Finally, Miller Howard Investments Inc. NY grew its position in shares of AES by 35.5% in the second quarter. Miller Howard Investments Inc. NY now owns 4,877,412 shares of the utilities provider’s stock valued at $81,745,000 after purchasing an additional 1,278,825 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.
Shares of AES traded up $0.46 on Friday, hitting $15.23. 1,997,438 shares of the stock traded hands, compared to its average volume of 5,509,021. The company has a quick ratio of 1.24, a current ratio of 1.36 and a debt-to-equity ratio of 3.41. The firm has a market capitalization of $9.81 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.34 and a beta of 1.03. The stock’s 50 day moving average is $16.68 and its two-hundred day moving average is $17.06. AES Corp has a 1 year low of $13.00 and a 1 year high of $18.52.
AES (NYSE:AES) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.43 billion. AES had a net margin of 3.78% and a return on equity of 18.94%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Research analysts forecast that AES Corp will post 1.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.137 per share. This is an increase from AES’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.55 annualized dividend and a dividend yield of 3.60%. AES’s dividend payout ratio is presently 44.35%.
AES has been the topic of several research reports. Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, June 4th. Argus upgraded shares of AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. ValuEngine lowered shares of AES from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet downgraded shares of AES from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Finally, Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and set a $16.57 price objective on the stock in a research note on Thursday, June 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.77.
In related news, Director Jeffrey W. Ubben purchased 200,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.25 per share, with a total value of $3,050,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.06% of the company’s stock.
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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