Texas Permanent School Fund lessened its stake in AES Corp (NYSE:AES) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,540 shares of the utilities provider’s stock after selling 12,859 shares during the quarter. Texas Permanent School Fund’s holdings in AES were worth $2,080,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AES. Dimensional Fund Advisors LP boosted its holdings in shares of AES by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,153,056 shares of the utilities provider’s stock valued at $24,480,000 after buying an additional 82,432 shares during the last quarter. Clinton Group Inc. acquired a new stake in shares of AES in the 2nd quarter valued at approximately $285,000. IFM Investors Pty Ltd boosted its holdings in shares of AES by 25.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 42,793 shares of the utilities provider’s stock valued at $574,000 after buying an additional 8,770 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of AES by 32.5% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 25,971 shares of the utilities provider’s stock valued at $348,000 after buying an additional 6,372 shares during the last quarter. Finally, Hexavest Inc. acquired a new stake in shares of AES in the 2nd quarter valued at approximately $36,387,000. 98.78% of the stock is owned by institutional investors.
Several research firms have recently commented on AES. Morgan Stanley reissued a “hold” rating and issued a $14.50 price objective (up previously from $14.00) on shares of AES in a report on Thursday, October 11th. ValuEngine raised AES from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.
Shares of AES stock opened at $16.01 on Wednesday. AES Corp has a 1 year low of $9.86 and a 1 year high of $16.04. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.45 and a beta of 0.97. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.32 and a quick ratio of 1.18.
AES (NYSE:AES) last announced its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. AES had a positive return on equity of 19.26% and a negative net margin of 1.87%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the firm posted $0.23 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that AES Corp will post 1.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, October 31st. AES’s dividend payout ratio is 48.15%.
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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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