DekaBank Deutsche Girozentrale lifted its stake in shares of AES Corp (NYSE:AES) by 55.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,050 shares of the utilities provider’s stock after purchasing an additional 261,676 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in AES were worth $12,197,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in AES. SG Americas Securities LLC grew its holdings in AES by 204.0% during the second 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 during the period. Hennessy Advisors Inc. grew its holdings in AES by 3.0% during the second 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 during the period. Norinchukin Bank The grew its holdings in AES by 3.6% during the first 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 during the period. Belpointe Asset Management LLC acquired a new position in AES during the first quarter worth $458,000. Finally, Chase Investment Counsel Corp acquired a new position in AES during the first quarter worth $4,160,000. Institutional investors and hedge funds own 94.60% of the company’s stock.
AES stock opened at $15.20 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.24 and a current ratio of 1.36. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.30 and a beta of 1.03. AES Corp has a fifty-two week low of $13.00 and a fifty-two week high of $18.52. The stock’s fifty day moving average is $16.65 and its two-hundred day moving average is $17.05.
AES (NYSE:AES) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.43 billion. AES had a net margin of 3.78% and a return on equity of 18.94%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, sell-side analysts forecast that AES Corp will post 1.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.137 dividend. This is a positive change from AES’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.55 annualized dividend and a yield of 3.61%. AES’s dividend payout ratio is 44.35%.
AES has been the topic of a number of recent analyst reports. ValuEngine lowered AES from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Argus raised AES from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Evercore ISI set a $19.00 price objective on AES and gave the stock a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, June 4th. Finally, TheStreet lowered AES from a “b” rating to a “c+” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $16.77.
In other news, Director Jeffrey W. Ubben bought 200,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.25 per share, with a total value of $3,050,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by corporate 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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