Edgestream Partners L.P. bought a new stake in AES Corp (NYSE:AES) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 461,330 shares of the utilities provider’s stock, valued at approximately $7,732,000. Edgestream Partners L.P. owned 0.07% of AES as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of AES. SG Americas Securities LLC grew its stake in shares of AES by 204.0% in the 2nd quarter. SG Americas Securities LLC now owns 373,219 shares of the utilities provider’s stock worth $6,255,000 after acquiring an additional 250,431 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of AES by 3.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,340,200 shares of the utilities provider’s stock worth $22,462,000 after acquiring an additional 39,100 shares in the last quarter. Norinchukin Bank The grew its stake in shares of AES by 3.6% in the 1st quarter. Norinchukin Bank The now owns 125,703 shares of the utilities provider’s stock worth $2,273,000 after acquiring an additional 4,377 shares in the last quarter. Belpointe Asset Management LLC bought a new position in AES during the first quarter valued at about $458,000. Finally, Chase Investment Counsel Corp bought a new position in AES during the first quarter valued at about $4,160,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on AES. TheStreet lowered shares of AES from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Argus raised shares of AES from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. Bank of America upgraded shares of AES from an “underperform” rating to a “neutral” rating and set a $16.57 price target on the stock in a research report on Thursday, June 20th. ValuEngine cut shares of AES from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.77.
NYSE:AES traded up $0.14 during trading hours on Friday, hitting $15.81. The company had a trading volume of 18,557 shares, compared to its average volume of 4,445,426. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.36 and a quick ratio of 1.24. The company has a market capitalization of $10.40 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The stock has a 50-day moving average price of $15.67 and a 200 day moving average price of $16.81. AES Corp has a 52 week low of $13.18 and a 52 week high of $18.52.
AES (NYSE:AES) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). AES had a return on equity of 18.94% and a net margin of 3.78%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. AES’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that AES Corp will post 1.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.137 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from AES’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 3.47%. AES’s payout ratio is currently 44.35%.
In related news, Director Jeffrey W. Ubben purchased 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.25 per share, for a total transaction of $3,050,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Julian Nebreda sold 18,864 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.24, for a total value of $287,487.36. Following the sale, the senior vice president now owns 35,314 shares in the company, valued at approximately $538,185.36. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.
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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