Caxton Associates LLP Purchases New Shares in The AES Corporation $AES

Key Points

• Caxton Associates LLP has acquired 31,438 shares of The AES Corporation, marking a significant investment of approximately $390,000 in the utilities provider during the first quarter.
• The AES Corporation recently reported earnings of $0.51 per share for the quarter, surpassing analyst estimates, despite a year-over-year revenue decline.
• The company announced a quarterly dividend of $0.176, resulting in an annualized dividend yield of 5.5% and a payout ratio of 49.30%.

Caxton Associates LLP acquired a new stake in The AES Corporation (NYSE:AES - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 31,438 shares of the utilities provider's stock, valued at approximately $390,000.

A number of other institutional investors have also recently made changes to their positions in the business. Orbis Allan Gray Ltd grew its holdings in shares of AES by 21.8% in the first quarter. Orbis Allan Gray Ltd now owns 27,518,952 shares of the utilities provider's stock valued at $341,785,000 after purchasing an additional 4,930,252 shares in the last quarter. Invesco Ltd. grew its holdings in shares of AES by 30.4% in the first quarter. Invesco Ltd. now owns 20,790,956 shares of the utilities provider's stock valued at $258,224,000 after purchasing an additional 4,842,149 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of AES by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,134,771 shares of the utilities provider's stock valued at $88,614,000 after purchasing an additional 255,512 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of AES by 25.0% in the first quarter. Goldman Sachs Group Inc. now owns 7,115,438 shares of the utilities provider's stock valued at $88,374,000 after purchasing an additional 1,421,899 shares in the last quarter. Finally, Sound Shore Management Inc. CT grew its holdings in shares of AES by 13.6% in the first quarter. Sound Shore Management Inc. CT now owns 6,097,946 shares of the utilities provider's stock valued at $75,736,000 after purchasing an additional 730,178 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Stock Up 1.2%

Shares of AES stock traded up $0.15 during trading hours on Monday, hitting $13.03. The company had a trading volume of 14,858,764 shares, compared to its average volume of 8,190,695. The company's 50-day moving average is $13.13 and its two-hundred day moving average is $11.78. 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 current ratio of 0.82 and a quick ratio of 0.74. The company has a market cap of $9.28 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 1.54 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, beating the consensus estimate of $0.39 by $0.12. AES had a net margin of 8.42% and a return on equity of 19.02%. The business had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.97 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The company's revenue for the quarter was down 3.0% on a year-over-year basis. Analysts anticipate that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AES. Susquehanna lifted their price objective on shares of AES from $15.00 to $16.00 and gave the company a "positive" rating in a report on Monday, July 21st. Argus reiterated a "hold" rating on shares of AES in a report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price target on shares of AES from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of AES from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Jefferies Financial Group cut shares of AES from a "hold" rating to an "underperform" rating and lowered their price target for the stock from $10.00 to $9.00 in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.67.

About AES

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.