Perigon Wealth Management LLC grew its position in AES Corp (NYSE:AES) by 24.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,444 shares of the utilities provider’s stock after purchasing an additional 3,963 shares during the quarter. Perigon Wealth Management LLC’s holdings in AES were worth $296,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of AES by 1.4% in the second quarter. CIBC Asset Management Inc now owns 58,222 shares of the utilities provider’s stock valued at $844,000 after purchasing an additional 830 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of AES by 0.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 205,273 shares of the utilities provider’s stock valued at $2,792,000 after purchasing an additional 890 shares during the last quarter. Monarch Capital Management Inc. grew its position in shares of AES by 1.8% in the second quarter. Monarch Capital Management Inc. now owns 50,850 shares of the utilities provider’s stock valued at $737,000 after purchasing an additional 900 shares during the last quarter. Focused Wealth Management Inc grew its position in shares of AES by 19.3% in the first quarter. Focused Wealth Management Inc now owns 6,800 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of AES by 74.8% in the first quarter. Parallel Advisors LLC now owns 2,654 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,136 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors.
In other news, Director Jeffrey W. Ubben purchased 500,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $11.67 per share, for a total transaction of $5,835,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.54% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on AES shares. Morgan Stanley decreased their target price on AES from $18.50 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Seaport Global Securities started coverage on AES in a research report on Wednesday, May 20th. They set a “buy” rating and a $17.00 price target on the stock. ValuEngine downgraded AES from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. TheStreet raised AES from a “c” rating to a “b-” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price target on AES from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.67.
Shares of AES stock opened at $15.23 on Friday. The stock’s fifty day moving average price is $14.34 and its two-hundred day moving average price is $15.28. The company has a market cap of $10.13 billion, a PE ratio of 34.61, a P/E/G ratio of 1.55 and a beta of 0.99. AES Corp has a fifty-two week low of $8.11 and a fifty-two week high of $21.23. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.97 and a current ratio of 1.06.
AES (NYSE:AES) last issued its earnings results on Thursday, May 7th. The utilities provider reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.73 billion. AES had a return on equity of 23.42% and a net margin of 2.97%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, equities analysts predict that AES Corp will post 1.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Monday, August 3rd will be paid a $0.1433 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, July 31st. AES’s payout ratio is 41.91%.
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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