Alaska Permanent Fund Corp Buys New Stake in The AES Co. (NYSE:AES)

Alaska Permanent Fund Corp purchased a new position in The AES Co. (NYSE:AES) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,256 shares of the utilities provider’s stock, valued at approximately $428,000.

A number of other large investors have also modified their holdings of the business. New York Life Investment Management LLC increased its stake in AES by 0.7% during the 3rd quarter. New York Life Investment Management LLC now owns 96,702 shares of the utilities provider’s stock valued at $1,470,000 after purchasing an additional 665 shares in the last quarter. Global Retirement Partners LLC raised its stake in AES by 18.0% in the 4th quarter. Global Retirement Partners LLC now owns 4,378 shares of the utilities provider’s stock worth $78,000 after acquiring an additional 668 shares during the last quarter. Simplicity Solutions LLC lifted its position in AES by 0.5% during the 3rd quarter. Simplicity Solutions LLC now owns 168,016 shares of the utilities provider’s stock worth $2,554,000 after acquiring an additional 793 shares during the period. River Street Advisors LLC increased its holdings in shares of AES by 7.1% in the third quarter. River Street Advisors LLC now owns 12,548 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 836 shares during the period. Finally, M&T Bank Corp raised its stake in shares of AES by 2.0% in the third quarter. M&T Bank Corp now owns 52,644 shares of the utilities provider’s stock worth $800,000 after purchasing an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Up 0.5 %

AES stock opened at $17.21 on Friday. The stock has a market capitalization of $12.23 billion, a P/E ratio of 52.15 and a beta of 1.08. The AES Co. has a 52 week low of $11.43 and a 52 week high of $23.81. The firm has a 50-day simple moving average of $16.52 and a 200-day simple moving average of $16.77. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 4.42.

AES (NYSE:AES) last released its earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.36 billion. AES had a return on equity of 38.76% and a net margin of 2.12%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. Equities analysts forecast that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a dividend yield of 4.01%. AES’s dividend payout ratio is presently 209.10%.

Analysts Set New Price Targets

AES has been the topic of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price target on shares of AES in a report on Monday, March 25th. UBS Group lowered their target price on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Mizuho started coverage on AES in a report on Thursday, April 18th. They issued a “buy” rating and a $21.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of AES in a report on Tuesday, April 9th. Finally, Barclays dropped their price target on shares of AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, AES has an average rating of “Moderate Buy” and an average price target of $22.13.

AES Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.