Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of The AES Corporation (NYSE:AES – Free Report) in the third quarter, Holdings Channel reports. The firm purchased 182,456 shares of the utilities provider’s stock, valued at approximately $2,719,000.
Several other institutional investors have also added to or reduced their stakes in AES. Anchor Investment Management LLC grew its holdings in AES by 2,444.4% in the 2nd quarter. Anchor Investment Management LLC now owns 2,290 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 2,200 shares during the last quarter. Core Capital Management & Research inc. purchased a new position in shares of AES in the second quarter valued at about $37,000. Curry Webb Wealth Management LLC purchased a new position in shares of AES in the third quarter valued at about $37,000. Burnham & Co LLC bought a new position in shares of AES during the second quarter valued at about $44,000. Finally, Root Financial Partners LLC bought a new position in shares of AES during the third quarter valued at about $46,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.
AES Price Performance
AES opened at $14.88 on Friday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.67 and a current ratio of 0.86. The AES Corporation has a 52-week low of $13.28 and a 52-week high of $17.65. The stock has a market capitalization of $10.61 billion, a PE ratio of 5.97 and a beta of 0.95. The stock’s 50 day moving average price is $14.89 and its 200-day moving average price is $14.79.
AES Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.1759 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, October 30th. AES’s dividend payout ratio is presently 28.11%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AES. Wall Street Zen upgraded shares of AES to a “buy” rating in a report on Saturday. Weiss Ratings upgraded AES from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Seven analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.80.
Check Out Our Latest Stock Analysis on AES
About AES
The AES Corporation is a global power company that develops and operates electricity generation and energy infrastructure. Its portfolio includes renewable energy, natural gas and other power generation, as well as battery energy storage. AES also helps businesses and other customers procure electricity and pursue clean-energy goals.
Founded in 1981 as Applied Energy Services, the company has expanded from its U.S. origins to serve customers across multiple regions, including the Americas, Europe and Asia.
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