Flputnam Investment Management Co. Has $423,000 Stock Position in The AES Corporation $AES

Key Points

• Flputnam Investment Management Co. has significantly reduced its stake in The AES Corporation by 63.6% during the first quarter, now holding shares worth $423,000 after selling over 59,000 shares.
• AES reported a quarterly earnings per share of $0.51, surpassing analysts' expectations of $0.39, but experienced a 3% decrease in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.176 per share, resulting in an annual dividend yield of 5.3% and a payout ratio of 49.30%.

Flputnam Investment Management Co. reduced its holdings in shares of The AES Corporation (NYSE:AES - Free Report) by 63.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,035 shares of the utilities provider's stock after selling 59,527 shares during the quarter. Flputnam Investment Management Co.'s holdings in AES were worth $423,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AES. Community Trust & Investment Co. raised its stake in shares of AES by 37.4% during the 1st quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider's stock worth $3,619,000 after purchasing an additional 79,355 shares in the last quarter. Lewis Asset Management LLC bought a new stake in shares of AES during the 1st quarter worth approximately $1,172,000. Principal Financial Group Inc. raised its stake in shares of AES by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 824,080 shares of the utilities provider's stock worth $10,235,000 after purchasing an additional 20,109 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of AES by 13.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,270,543 shares of the utilities provider's stock worth $15,780,000 after purchasing an additional 148,772 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in shares of AES by 39.6% during the 1st quarter. Foundry Partners LLC now owns 1,349,118 shares of the utilities provider's stock worth $16,756,000 after purchasing an additional 382,843 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

AES Price Performance

Shares of NYSE AES traded up $0.12 during mid-day trading on Friday, reaching $12.93. The company had a trading volume of 12,318,006 shares, compared to its average volume of 7,549,896. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.74 and a current ratio of 0.82. The AES Corporation has a one year low of $9.46 and a one year high of $20.30. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.55 and a beta of 0.92. The business's 50-day simple moving average is $12.93 and its 200 day simple moving average is $11.69.

AES (NYSE:AES - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.97 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business's revenue for the quarter was down 3.0% on a year-over-year basis. On average, research 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. Investors of record on Friday, August 1st were paid a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 1st. AES's payout ratio is currently 49.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AES shares. Susquehanna increased their price target on AES from $15.00 to $16.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Barclays increased their price target on AES from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group cut AES from a "hold" rating to an "underperform" rating and dropped their price target for the company from $10.00 to $9.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their price target on AES from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Argus restated a "hold" rating on shares of AES in a research note on Tuesday, May 27th. Two 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. According to MarketBeat.com, the company currently 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.