Convergence Investment Partners LLC bought a new stake in shares of AES Corp (NYSE:AES) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 318,438 shares of the utilities provider’s stock, valued at approximately $3,449,000.
A number of other institutional investors also recently made changes to their positions in the business. Atria Investments LLC bought a new stake in AES during the fourth quarter valued at approximately $3,139,000. Prudential Financial Inc. lifted its position in AES by 10.7% during the third quarter. Prudential Financial Inc. now owns 11,399,720 shares of the utilities provider’s stock valued at $125,625,000 after purchasing an additional 1,103,750 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in AES by 7.8% during the third quarter. Parametric Portfolio Associates LLC now owns 2,913,485 shares of the utilities provider’s stock valued at $32,107,000 after purchasing an additional 211,075 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in AES by 7.9% during the third quarter. Public Employees Retirement System of Ohio now owns 312,162 shares of the utilities provider’s stock valued at $3,440,000 after purchasing an additional 22,799 shares during the last quarter. Finally, Cypress Capital Group bought a new stake in AES during the third quarter valued at approximately $138,000. Institutional investors and hedge funds own 93.08% of the company’s stock.
AES Corp (NYSE AES) opened at $10.68 on Wednesday. The company has a market cap of $7,290.67, a P/E ratio of -9.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21. AES Corp has a one year low of $10.00 and a one year high of $12.06. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.89 and a current ratio of 0.99.
AES (NYSE:AES) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.63 billion. AES had a positive return on equity of 15.14% and a negative net margin of 5.43%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. sell-side analysts predict that AES Corp will post 1.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This is an increase from AES’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 4.87%. AES’s dividend payout ratio (DPR) is -41.03%.
In other AES news, CFO Thomas M. O’flynn purchased 9,500 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $10.64 per share, with a total value of $101,080.00. Following the completion of the purchase, the chief financial officer now owns 219,131 shares of the company’s stock, valued at approximately $2,331,553.84. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andres Gluski purchased 24,632 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were acquired at an average cost of $10.17 per share, for a total transaction of $250,507.44. Following the completion of the purchase, the insider now directly owns 868,396 shares of the company’s stock, valued at approximately $8,831,587.32. The disclosure for this purchase can be found here. Insiders have acquired 38,832 shares of company stock worth $401,407 over the last three months. Insiders own 1.09% of the company’s stock.
Several brokerages have issued reports on AES. Morgan Stanley dropped their target price on shares of AES from $14.00 to $12.50 and set an “equal weight” rating for the company in a research report on Wednesday, December 13th. ValuEngine raised shares of AES from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Bank of America raised shares of AES from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, November 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.70.
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The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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