Altfest L J & Co. Inc. Purchases Shares of 40,195 The AES Corporation (NYSE:AES)

Key Points

• Altfest L J & Co. Inc. has made a $499,000 investment in The AES Corporation, acquiring 40,195 shares during the first quarter.
• AES reported earnings of $0.51 per share, surpassing the consensus estimate of $0.39, but its revenue of $2.86 billion fell short of expectations.
• The company is offering a quarterly dividend of $0.176 per share, with a dividend yield of 5.5% and a payout ratio of 49.30%.

Altfest L J & Co. Inc. acquired a new stake in shares of The AES Corporation (NYSE:AES - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,195 shares of the utilities provider's stock, valued at approximately $499,000.

Other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in shares of AES by 33.5% in the first quarter. Hexagon Capital Partners LLC now owns 3,880 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 974 shares in the last quarter. Diversify Advisory Services LLC grew its stake in shares of AES by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 20,904 shares of the utilities provider's stock worth $260,000 after acquiring an additional 1,006 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in AES by 4.0% in the first quarter. Kestra Private Wealth Services LLC now owns 26,290 shares of the utilities provider's stock valued at $327,000 after buying an additional 1,011 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of AES by 1.1% during the 1st quarter. Yousif Capital Management LLC now owns 94,686 shares of the utilities provider's stock worth $1,176,000 after purchasing an additional 1,012 shares during the period. Finally, Moloney Securities Asset Management LLC grew its stake in shares of AES by 5.0% during the 1st quarter. Moloney Securities Asset Management LLC now owns 24,752 shares of the utilities provider's stock worth $307,000 after purchasing an additional 1,173 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised AES from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Susquehanna boosted their target price on AES from $15.00 to $16.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Citigroup reduced their price objective on AES from $23.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, May 9th. HSBC reduced their price objective on AES from $15.00 to $14.00 in a research note on Monday, May 5th. Finally, Argus restated a "hold" rating on shares of AES in a research note on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, AES presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.67.

AES Stock Up 1.9%

NYSE:AES traded up $0.25 during trading hours on Friday, hitting $13.10. 6,517,891 shares of the company's stock traded hands, compared to its average volume of 12,384,457. The firm has a market cap of $9.33 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.57 and a beta of 0.96. The AES Corporation has a twelve month low of $9.46 and a twelve month high of $20.30. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.74 and a current ratio of 0.82. The stock's fifty day moving average price is $11.93 and its two-hundred day moving average price is $11.34.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.97 billion. AES had a return on equity of 19.02% and a net margin of 8.42%. The firm's revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. On average, research analysts expect that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.176 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.4%. AES's dividend payout ratio is presently 49.30%.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.