The Manufacturers Life Insurance Company acquired a new position in The AES Corporation (NYSE:AES - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,515,619 shares of the utilities provider's stock, valued at approximately $22,219,000. The Manufacturers Life Insurance Company owned about 0.21% of AES at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Cibc World Market Inc. acquired a new position in shares of AES during the second quarter valued at approximately $912,000. Sanctuary Advisors LLC acquired a new stake in shares of AES in the second quarter worth approximately $2,008,000. DLD Asset Management LP purchased a new stake in shares of AES during the second quarter worth approximately $2,253,000. Clear Harbor Asset Management LLC acquired a new position in AES in the 2nd quarter valued at $201,000. Finally, Bank of Nova Scotia purchased a new position in AES in the 2nd quarter valued at $25,665,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
AES Trading Down 0.0%
AES opened at $14.72 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The company's 50 day simple moving average is $14.73 and its two-hundred day simple moving average is $14.73. The AES Corporation has a 1-year low of $12.33 and a 1-year high of $17.65. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 5.62 and a beta of 0.97.
AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.15. AES had a return on equity of 20.69% and a net margin of 14.30%.The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.11 billion. Analysts expect that The AES Corporation will post 2.27 EPS for the current fiscal year.
AES Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.176 dividend. This represents a $0.70 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, July 31st. AES's dividend payout ratio is presently 26.72%.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of AES from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, AES currently has an average rating of "Hold" and an average price target of $15.71.
Get Our Latest Stock Report on AES
About AES
(
Free Report)
AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company's portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.
Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.
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