Kovitz Investment Group Partners LLC Buys 22,453 Shares of The AES Corporation $AES

Key Points

• Kovitz Investment Group Partners LLC increased its stake in The AES Corporation by 108.1%, acquiring an additional 22,453 shares during the first quarter, bringing their total holdings to 43,231 shares valued at approximately $537,000.
• AES reported a 0.8% decrease in stock price, with current trading around $13.1950 and a market cap of $9.40 billion.
• The company declared a quarterly dividend of $0.176 per share, representing an annualized dividend yield of 5.3%.

Kovitz Investment Group Partners LLC lifted its stake in The AES Corporation (NYSE:AES - Free Report) by 108.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,231 shares of the utilities provider's stock after acquiring an additional 22,453 shares during the period. Kovitz Investment Group Partners LLC's holdings in AES were worth $537,000 at the end of the most recent quarter.

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

AES Stock Down 0.8%

AES stock opened at $13.1950 on Thursday. 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 business's 50-day simple moving average is $12.32 and its two-hundred day simple moving average is $11.44. The company has a market cap of $9.40 billion, a PE ratio of 9.29, a PEG ratio of 1.59 and a beta of 0.96. The AES Corporation has a fifty-two week low of $9.46 and a fifty-two week high of $20.30.

AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12. The business 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 company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. Equities analysts anticipate that The AES Corporation will post 1.93 EPS for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid 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%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AES shares. JPMorgan Chase & Co. upped their target price on AES from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Barclays upped their target price on AES from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Citigroup reduced their target price on AES from $23.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Susquehanna upped their target price on AES from $15.00 to $16.00 and gave the company a "positive" rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group lowered AES from a "hold" rating to an "underperform" rating and reduced their target price for the company from $10.00 to $9.00 in a research 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 issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.

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