Evergreen Capital Management LLC Has $17.58 Million Stake in The AES Corporation $AES

Key Points

• Evergreen Capital Management LLC increased its stake in The AES Corporation by 11.3%, holding 1,415,300 shares worth $17.58 million.
• The AES Corporation reported earnings of $0.51 per share, exceeding analysts' expectations, despite a 3% drop in revenue year-over-year.
• AES announced a quarterly dividend of $0.176 per share, offering an annualized yield of 5.2%.

Evergreen Capital Management LLC increased its stake in The AES Corporation (NYSE:AES - Free Report) by 11.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,415,300 shares of the utilities provider's stock after buying an additional 143,750 shares during the period. Evergreen Capital Management LLC owned about 0.20% of AES worth $17,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AES. First Trust Advisors LP increased its stake in shares of AES by 53.9% in the fourth quarter. First Trust Advisors LP now owns 471,026 shares of the utilities provider's stock worth $6,062,000 after buying an additional 164,910 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AES by 32.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,301,147 shares of the utilities provider's stock valued at $55,350,000 after acquiring an additional 1,062,074 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of AES by 0.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,007,392 shares of the utilities provider's stock valued at $12,966,000 after acquiring an additional 5,598 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of AES by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,429,483 shares of the utilities provider's stock valued at $31,267,000 after acquiring an additional 25,395 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of AES by 10.6% during the fourth quarter. Northern Trust Corp now owns 6,559,912 shares of the utilities provider's stock valued at $84,426,000 after acquiring an additional 628,911 shares during the period. Institutional investors own 93.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Argus reissued a "hold" rating on shares of AES in a report on Tuesday, May 27th. Citigroup reduced their price objective on shares of AES from $23.00 to $14.00 and set a "buy" rating for the company in a report on Friday, May 9th. Susquehanna upped their price objective on shares of AES from $15.00 to $16.00 and gave the stock a "positive" rating in a report on Monday, July 21st. 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 report on Tuesday, July 22nd. Finally, Jefferies Financial Group downgraded shares of AES from a "hold" rating to an "underperform" rating and cut their price target for the company from $10.00 to $9.00 in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.67.

AES Trading Down 1.4%

NYSE AES traded down $0.19 on Wednesday, hitting $13.23. 1,990,202 shares of the company were exchanged, compared to its average volume of 15,103,212. The company's 50 day moving average price is $12.79 and its 200-day moving average price is $11.63. 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 firm has a market capitalization of $9.42 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The AES Corporation has a twelve month low of $9.46 and a twelve month high of $20.30.

AES (NYSE:AES - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.86 billion for 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 business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Analysts predict that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, August 1st. AES's payout ratio is presently 49.30%.

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.