BlackRock Inc. purchased a new stake in The AES Corporation (NYSE:AES - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 49,278,892 shares of the utilities provider's stock, valued at approximately $722,429,000. BlackRock Inc. owned 6.91% of AES at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of AES. Root Financial Partners LLC grew its stake in shares of AES by 259.9% during the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider's stock worth $40,000 after purchasing an additional 2,038 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of AES in the 4th quarter valued at about $42,000. EverSource Wealth Advisors LLC lifted its stake in shares of AES by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock valued at $75,000 after purchasing an additional 2,006 shares during the period. Sound Income Strategies LLC purchased a new stake in AES during the first quarter worth about $78,000. Finally, Clearstead Trust LLC acquired a new position in AES during the second quarter worth about $91,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
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, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $15.71.
Read Our Latest Report on AES
AES Price Performance
Shares of NYSE AES opened at $14.77 on Friday. The firm's 50-day moving average is $14.72 and its two-hundred day moving average is $14.76. The company has a market capitalization of $10.54 billion, a PE ratio of 5.64 and a beta of 0.97. The AES Corporation has a 12-month low of $12.33 and a 12-month high of $17.65. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67.
AES (NYSE:AES - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. Equities analysts anticipate that The AES Corporation will post 2.27 EPS for the current fiscal year.
AES Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, July 31st. AES's payout ratio is currently 26.72%.
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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