Pacer Advisors Inc. grew its holdings in shares of The AES Co. (NYSE:AES – Free Report) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,121 shares of the utilities provider’s stock after buying an additional 993 shares during the quarter. Pacer Advisors Inc.’s holdings in AES were worth $1,039,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in AES by 30.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 67,720 shares of the utilities provider’s stock worth $1,631,000 after purchasing an additional 15,827 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in AES in the 1st quarter worth about $4,672,000. Yousif Capital Management LLC raised its position in AES by 2.8% in the 1st quarter. Yousif Capital Management LLC now owns 100,670 shares of the utilities provider’s stock worth $2,424,000 after purchasing an additional 2,771 shares during the period. Texas Permanent School Fund Corp grew its stake in AES by 48.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 138,957 shares of the utilities provider’s stock worth $3,346,000 after acquiring an additional 45,369 shares in the last quarter. Finally, M&G Investment Management Ltd. grew its stake in AES by 14.1% in the 1st quarter. M&G Investment Management Ltd. now owns 4,585,131 shares of the utilities provider’s stock worth $110,043,000 after acquiring an additional 568,006 shares in the last quarter. 94.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on AES shares. Barclays started coverage on shares of AES in a research note on Wednesday, August 23rd. They issued an “overweight” rating and a $25.00 target price on the stock. StockNews.com upgraded shares of AES to a “sell” rating in a research note on Friday, September 15th. Morgan Stanley reiterated an “overweight” rating and set a $29.00 price objective on shares of AES in a research note on Friday, July 21st. Susquehanna lowered their target price on shares of AES from $33.00 to $30.00 in a research note on Thursday, August 3rd. Finally, Bank of America downgraded shares of 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 research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.08.
Insider Buying and Selling
In other AES news, Director Alain Monie purchased 27,400 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average cost of $18.27 per share, for a total transaction of $500,598.00. Following the completion of the transaction, the director now owns 28,725 shares of the company’s stock, valued at approximately $524,805.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Maura Shaughnessy bought 12,500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $19.49 per share, for a total transaction of $243,625.00. Following the acquisition, the director now directly owns 60,653 shares of the company’s stock, valued at approximately $1,182,126.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alain Monie purchased 27,400 shares of AES stock in a transaction dated Wednesday, August 16th. The stock was bought at an average cost of $18.27 per share, for a total transaction of $500,598.00. Following the completion of the purchase, the director now directly owns 28,725 shares in the company, valued at approximately $524,805.75. The disclosure for this purchase can be found here. 0.01% of the stock is currently owned by company insiders.
AES Stock Down 6.6 %
Shares of NYSE AES opened at $14.88 on Friday. The company’s 50-day simple moving average is $18.47 and its 200-day simple moving average is $20.82. The AES Co. has a 52-week low of $14.85 and a 52-week high of $29.89. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of -24.39, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 6.02.
AES (NYSE:AES – Get Free Report) last announced its earnings results on Friday, August 4th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). AES had a negative net margin of 2.70% and a positive return on equity of 36.65%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned $0.34 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts predict that The AES Co. will post 1.7 EPS for the current fiscal year.
AES Announces Dividend
The firm 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 of this dividend was Monday, July 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.46%. AES’s payout ratio is presently -108.20%.
AES 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.
Featured Articles
- Five stocks we like better than AES
- What Are Defense Contractor Stocks? How to Invest in Defense
- Nursing Home REITs: The Surprise Heroes of High Yield Investing
- How to Invest in Energy
- Energy Stocks Shine as High Oil Prices Boost Dividend Yields
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Can Undervalued Healthcare Stocks Add Yield To Your Portfolio?
Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.
