The AES Corporation (NYSE:AES – Get Free Report) declared a quarterly dividend on Wednesday, July 15th. Shareholders of record on Friday, July 31st will be given a dividend of 0.176 per share by the utilities provider on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Friday, July 31st.
AES has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 12 years. AES has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Analysts expect AES to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 29.7%.
AES Price Performance
Shares of AES opened at $14.78 on Friday. The company’s 50-day moving average is $14.64 and its 200-day moving average is $14.70. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.73 and a quick ratio of 0.65. The firm has a market capitalization of $10.54 billion, a PE ratio of 7.90 and a beta of 0.96. AES has a fifty-two week low of $12.33 and a fifty-two week high of $17.65.
Hedge Funds Weigh In On AES
A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of AES by 99.8% during the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock valued at $201,215,000 after acquiring an additional 7,133,230 shares during the period. Sound Shore Management Inc. CT increased its holdings in AES by 17.0% in the 4th quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider’s stock valued at $98,922,000 after buying an additional 1,002,530 shares during the period. Kryger Capital LLC acquired a new position in shares of AES in the 1st quarter valued at approximately $31,702,000. Lazard Asset Management LLC boosted its position in shares of AES by 247.6% during the 2nd quarter. Lazard Asset Management LLC now owns 968,333 shares of the utilities provider’s stock worth $10,185,000 after acquiring an additional 689,741 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in AES by 4,710.9% in the fourth quarter. Horizon Investments LLC now owns 542,528 shares of the utilities provider’s stock valued at $7,780,000 after acquiring an additional 531,251 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.
About AES
AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.
Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.
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