Private Advisor Group LLC purchased a new stake in The AES Co. (NYSE:AES – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,392 shares of the utilities provider’s stock, valued at approximately $660,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of AES by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 83,790,219 shares of the utilities provider’s stock worth $2,155,923,000 after purchasing an additional 1,285,423 shares during the last quarter. Clean Energy Transition LLP bought a new position in AES during the first quarter valued at about $31,799,000. Barclays PLC lifted its position in shares of AES by 83.2% in the first quarter. Barclays PLC now owns 2,062,167 shares of the utilities provider’s stock worth $49,655,000 after buying an additional 936,829 shares during the last quarter. Millennium Management LLC increased its holdings in shares of AES by 208.0% during the 4th quarter. Millennium Management LLC now owns 1,293,643 shares of the utilities provider’s stock valued at $37,205,000 after acquiring an additional 873,684 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of AES by 40.0% in the 1st quarter. Jennison Associates LLC now owns 2,914,848 shares of the utilities provider’s stock valued at $70,190,000 after acquiring an additional 833,332 shares in the last quarter. Institutional investors own 94.49% of the company’s stock.
Insiders Place Their Bets
In related news, Director Maura Shaughnessy purchased 12,500 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $19.49 per share, with a total value of $243,625.00. Following the completion of the purchase, the director now directly owns 60,653 shares of the company’s stock, valued at $1,182,126.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AES news, Director Maura Shaughnessy bought 12,500 shares of AES stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $19.49 per share, with a total value of $243,625.00. Following the purchase, the director now owns 60,653 shares of the company’s stock, valued at $1,182,126.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alain Monie purchased 27,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average cost of $18.27 per share, with a total value of $500,598.00. Following the completion of the purchase, the director now owns 28,725 shares of the company’s stock, valued at $524,805.75. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.
AES Trading Down 1.6 %
AES (NYSE:AES – Get Free Report) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.08 billion. AES had a negative net margin of 2.70% and a positive return on equity of 36.65%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. On average, sell-side analysts predict that The AES Co. will post 1.7 EPS for the current fiscal year.
AES Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.1659 per share. The ex-dividend date was Monday, July 31st. This represents a $0.66 annualized dividend and a yield of 3.70%. AES’s dividend payout ratio (DPR) is -108.19%.
Analyst Upgrades and Downgrades
Several research analysts recently commented on AES shares. Morgan Stanley reiterated an “overweight” rating and issued a $29.00 target price on shares of AES in a report on Friday, July 21st. Bank of America lowered AES from a “buy” rating to a “neutral” rating and lowered their target price for the company from $24.00 to $23.00 in a report on Thursday, June 22nd. Barclays assumed coverage on AES in a research report on Wednesday, August 23rd. They issued an “overweight” rating and a $25.00 price objective for the company. UBS Group dropped their target price on shares of AES from $30.00 to $27.00 in a research report on Tuesday, May 9th. Finally, Susquehanna decreased their price target on shares of AES from $33.00 to $30.00 in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.83.
Check Out Our Latest Stock Analysis on AES
AES Company Profile
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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