Invesco Ltd. Purchases 4,842,149 Shares of The AES Corporation (NYSE:AES)

Key Points

• Invesco Ltd. increased its stake in The AES Corporation by 30.4% in Q1, acquiring an additional 4,842,149 shares, bringing its total ownership to 20,790,956 shares valued at approximately $258 million.
• Despite a slight revenue decline of 3% year-over-year, AES reported better-than-expected earnings of $0.51 per share for the quarter, exceeding analysts' estimates of $0.39.
• The company declared a quarterly dividend of $0.176, yielding 5.5%, with an upcoming payment date of August 15, 2023.

Invesco Ltd. raised its position in shares of The AES Corporation (NYSE:AES - Free Report) by 30.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,790,956 shares of the utilities provider's stock after purchasing an additional 4,842,149 shares during the period. Invesco Ltd. owned approximately 2.92% of AES worth $258,224,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its position in AES by 33.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,880 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 974 shares in the last quarter. Diversify Advisory Services LLC boosted its position in AES by 5.1% during the 1st quarter. Diversify Advisory Services LLC now owns 20,904 shares of the utilities provider's stock valued at $260,000 after acquiring an additional 1,006 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in AES by 4.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 26,290 shares of the utilities provider's stock valued at $327,000 after acquiring an additional 1,011 shares in the last quarter. Yousif Capital Management LLC boosted its position in AES by 1.1% during the 1st quarter. Yousif Capital Management LLC now owns 94,686 shares of the utilities provider's stock valued at $1,176,000 after acquiring an additional 1,012 shares in the last quarter. Finally, Moloney Securities Asset Management LLC boosted its position in shares of AES by 5.0% in the 1st quarter. Moloney Securities Asset Management LLC now owns 24,752 shares of the utilities provider's stock worth $307,000 after purchasing an additional 1,173 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Stock Performance

AES traded up $0.37 during mid-day trading on Friday, reaching $13.31. 13,877,391 shares of the company traded hands, compared to its average volume of 9,762,270. The stock has a market capitalization of $9.48 billion, a P/E ratio of 9.37, a P/E/G ratio of 1.59 and a beta of 0.96. The company has a quick ratio of 0.74, a current ratio of 0.82 and a debt-to-equity ratio of 3.46. The company's fifty day moving average price is $12.19 and its 200-day moving average price is $11.40. The AES Corporation has a 52-week low of $9.46 and a 52-week high of $20.30.

AES (NYSE:AES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.97 billion. During the same period in the previous year, the business earned $0.38 EPS. The company's quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts expect that The AES Corporation will post 1.93 EPS for the current year.

AES Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group cut AES from a "hold" rating to an "underperform" rating and dropped their price target for the stock from $10.00 to $9.00 in a research report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on AES from $108.00 to $112.00 in a research report on Friday, May 2nd. Susquehanna boosted their price target on AES from $15.00 to $16.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of AES from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barclays boosted their price objective on shares of AES from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, AES currently has an average rating of "Moderate Buy" and an average price target of $24.67.

AES Profile

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.