Bank of Nova Scotia Buys Shares of 1,750,671 The AES Corporation $AES

Bank of Nova Scotia purchased a new position in The AES Corporation (NYSE:AES - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,750,671 shares of the utilities provider's stock, valued at approximately $25,665,000. Bank of Nova Scotia owned approximately 0.25% of AES at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Root Financial Partners LLC lifted its position in shares of AES by 259.9% during the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider's stock valued at $40,000 after buying an additional 2,038 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of AES in the 4th quarter worth approximately $42,000. Burnham & Co LLC bought a new position in shares of AES during the 2nd quarter worth approximately $44,000. EverSource Wealth Advisors LLC raised its stake in shares of AES by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock worth $75,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in AES during the first quarter valued at approximately $78,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of AES from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.71.

AES Stock Performance

AES stock opened at $14.77 on Monday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The stock has a market cap of $10.54 billion, a PE ratio of 5.64 and a beta of 0.97. The stock has a 50-day moving average of $14.72 and a two-hundred day moving average of $14.76. The AES Corporation has a one year low of $12.33 and a one year high of $17.65.

AES (NYSE:AES - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.15. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. AES had a return on equity of 20.69% and a net margin of 14.30%. On average, research analysts anticipate that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.176 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. AES's dividend payout ratio is presently 26.72%.

AES Profile

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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