Greenland Capital Management LP purchased a new stake in shares of The AES Corporation (NYSE:AES - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 153,233 shares of the utilities provider's stock, valued at approximately $2,246,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC increased 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 last quarter. Los Angeles Capital Management LLC bought a new position in AES during the fourth quarter valued at $42,000. Burnham & Co LLC purchased a new position in shares of AES during the 2nd quarter valued at $44,000. EverSource Wealth Advisors LLC grew its stake in shares of AES by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock worth $75,000 after acquiring an additional 2,006 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in AES in the 1st quarter valued at about $78,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of AES from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Eight 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 an average target price of $15.71.
Check Out Our Latest Stock Analysis on AES
AES Price Performance
Shares of NYSE:AES opened at $14.77 on Friday. The company has a 50 day moving average of $14.72 and a 200 day moving average of $14.76. 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 $10.54 billion, a P/E 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.
AES (NYSE:AES - Get Free Report) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.11 billion. As a group, sell-side analysts forecast that The AES Corporation will post 2.27 EPS for the current fiscal year.
AES Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors 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 was Friday, July 31st. AES's dividend payout ratio (DPR) is 26.72%.
AES Company Profile
(
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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