Glazer Capital LLC Takes $24.77 Million Position in The AES Corporation $AES

Key Points

• Glazer Capital LLC acquired 1.69 million AES shares worth approximately $24.77 million in the second quarter, representing about 0.24% of the utility company and 0.6% of the fund’s holdings.
• Institutional investors and hedge funds own 93.13% of AES. Analysts maintain a consensus “Hold” rating with an average price target of $15.71.
• AES beat quarterly earnings expectations, reporting $0.60 in EPS versus the $0.45 consensus and $3.42 billion in revenue. The company also pays a quarterly dividend of $0.176 per share, implying a 4.8% annualized yield.

Glazer Capital LLC acquired a new position in shares of The AES Corporation (NYSE:AES - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,689,649 shares of the utilities provider's stock, valued at approximately $24,770,000. AES accounts for about 0.6% of Glazer Capital LLC's holdings, making the stock its 27th largest position. Glazer Capital LLC owned approximately 0.24% of AES at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AES. Root Financial Partners LLC increased its holdings in shares of AES by 259.9% during the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 2,038 shares during the period. Los Angeles Capital Management LLC bought a new position in AES in the 4th quarter valued at about $42,000. Burnham & Co LLC acquired a new position in AES during the 2nd quarter valued at about $44,000. EverSource Wealth Advisors LLC increased its stake in AES by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock valued at $75,000 after buying an additional 2,006 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in shares of AES in the 1st quarter worth approximately $78,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.71.

AES Price Performance

Shares of AES stock opened at $14.72 on Friday. The AES Corporation has a 52 week low of $12.33 and a 52 week high of $17.65. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93. The stock has a market cap of $10.51 billion, a PE ratio of 5.62 and a beta of 0.97. The company's 50-day moving average price is $14.73 and its two-hundred day moving average price is $14.73.

AES (NYSE:AES - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.11 billion. As a group, sell-side analysts anticipate that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, July 31st. AES's dividend payout ratio is 26.72%.

About AES

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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