The Manufacturers Life Insurance Company increased its position in shares of The AES Co. (NYSE:AES) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,504,139 shares of the utilities provider’s stock after buying an additional 41,102 shares during the period. The Manufacturers Life Insurance Company owned about 0.23% of The AES worth $27,239,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in AES. FMR LLC increased its position in shares of The AES by 8.9% in the 2nd quarter. FMR LLC now owns 29,595,834 shares of the utilities provider’s stock worth $428,843,000 after purchasing an additional 2,427,507 shares during the last quarter. Electron Capital Partners LLC increased its position in shares of The AES by 133.4% in the 2nd quarter. Electron Capital Partners LLC now owns 6,940,553 shares of the utilities provider’s stock worth $100,569,000 after purchasing an additional 3,966,426 shares during the last quarter. ValueAct Holdings L.P. increased its position in shares of The AES by 23.0% in the 2nd quarter. ValueAct Holdings L.P. now owns 5,346,500 shares of the utilities provider’s stock worth $77,471,000 after purchasing an additional 1,000,000 shares during the last quarter. Prudential Financial Inc. increased its position in shares of The AES by 299.1% in the 2nd quarter. Prudential Financial Inc. now owns 4,631,700 shares of the utilities provider’s stock worth $67,113,000 after purchasing an additional 3,471,135 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of The AES by 1.7% in the 2nd quarter. Swiss National Bank now owns 2,620,993 shares of the utilities provider’s stock worth $37,978,000 after purchasing an additional 44,300 shares during the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.
The AES stock opened at $20.42 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 4.79. The firm has a 50-day moving average price of $19.99 and a two-hundred day moving average price of $16.43. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of -39.27, a PEG ratio of 1.90 and a beta of 0.90. The AES Co. has a 52-week low of $8.11 and a 52-week high of $22.32.
The AES (NYSE:AES) last posted its earnings results on Wednesday, November 11th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.73 billion. The AES had a negative net margin of 3.67% and a positive return on equity of 24.03%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. Research analysts expect that The AES Co. will post 1.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 16th. Shareholders of record on Friday, October 30th were paid a dividend of $0.1433 per share. This represents a $0.57 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Thursday, October 29th. The AES’s payout ratio is 41.91%.
Several equities research analysts have recently weighed in on AES shares. Morgan Stanley dropped their target price on shares of The AES from $23.50 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. TheStreet lowered shares of The AES from a “b-” rating to a “c” rating in a report on Thursday, August 6th. ValuEngine raised shares of The AES from a “sell” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, Zacks Investment Research lowered shares of The AES from a “buy” rating to a “hold” rating and set a $21.00 price target for the company. in a report on Wednesday, October 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.75.
The AES 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.
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