Bayforest Capital Ltd Buys 61,902 Shares of The AES Corporation $AES

Key Points

• Bayforest Capital Ltd significantly increased its stake in The AES Corporation by 1,976.4%, now owning 65,034 shares valued at approximately $808,000.
• AES reported $0.51 earnings per share for the recent quarter, surpassing expectations, despite a 3.0% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.176 per share, resulting in an annualized dividend yield of 5.5%.

Bayforest Capital Ltd grew its stake in The AES Corporation (NYSE:AES - Free Report) by 1,976.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,034 shares of the utilities provider's stock after buying an additional 61,902 shares during the period. Bayforest Capital Ltd's holdings in AES were worth $808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AES. Cetera Investment Advisers boosted its stake in shares of AES by 51.4% in the 4th quarter. Cetera Investment Advisers now owns 147,609 shares of the utilities provider's stock valued at $1,900,000 after purchasing an additional 50,125 shares during the last quarter. Deutsche Bank AG boosted its position in AES by 130.4% during the fourth quarter. Deutsche Bank AG now owns 3,950,924 shares of the utilities provider's stock valued at $50,848,000 after acquiring an additional 2,236,418 shares during the last quarter. Graham Capital Management L.P. boosted its position in AES by 56.8% during the fourth quarter. Graham Capital Management L.P. now owns 133,419 shares of the utilities provider's stock valued at $1,717,000 after acquiring an additional 48,322 shares during the last quarter. Janus Henderson Group PLC boosted its position in AES by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 79,261 shares of the utilities provider's stock valued at $1,020,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its position in AES by 313.4% during the fourth quarter. Investment Management Corp of Ontario now owns 97,338 shares of the utilities provider's stock valued at $1,253,000 after acquiring an additional 73,791 shares during the last quarter. 93.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AES has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of AES from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of AES from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Jefferies Financial Group lowered shares of AES from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $10.00 to $9.00 in a research note on Tuesday, May 20th. Barclays lifted their price objective on shares of AES from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Susquehanna lifted their price objective on shares of AES from $15.00 to $16.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.67.

AES Stock Up 1.0%

Shares of AES traded up $0.13 during trading hours on Thursday, reaching $12.86. The stock had a trading volume of 10,467,946 shares, compared to its average volume of 8,032,049. The AES Corporation has a 12 month low of $9.46 and a 12 month high of $20.30. The firm has a 50-day simple moving average of $13.07 and a 200 day simple moving average of $11.74. The company has a current ratio of 0.82, a quick ratio of 0.74 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 1.52 and a beta of 0.92.

AES (NYSE:AES - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.12. AES had a return on equity of 19.02% and a net margin of 8.42%.The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.97 billion. During the same period last year, the business earned $0.38 EPS. AES's quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts predict that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 1st. AES's dividend payout ratio (DPR) is currently 49.30%.

AES 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.