Kryger Capital LLC Invests $31.70 Million in The AES Corporation $AES

Key Points

• Kryger Capital LLC initiated a new stake in The AES Corporation, buying 2.25 million shares worth about $31.7 million in the first quarter. The position represents roughly 2.2% of the fund’s portfolio.
• AES reported strong quarterly results, posting EPS of $0.68 versus expectations of $0.50 and revenue of $3.18 billion versus the $3.11 billion consensus estimate. Analysts now expect full-year EPS of 2.27.
• The company also declared a quarterly dividend of $0.176 per share, implying an annualized yield of about 4.7%. Meanwhile, analysts remain cautious overall, with an average rating of Hold and an average price target of $15.71.

Kryger Capital LLC purchased a new position in shares of The AES Corporation (NYSE:AES - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,250,000 shares of the utilities provider's stock, valued at approximately $31,702,000. AES makes up approximately 2.2% of Kryger Capital LLC's portfolio, making the stock its 15th biggest position. Kryger Capital LLC owned 0.32% of AES at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC grew 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 valued at $40,000 after buying an additional 2,038 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of AES in the 4th quarter worth $42,000. Sound Income Strategies LLC acquired a new position in AES in the first quarter valued at $78,000. Canada Post Corp Registered Pension Plan boosted its holdings in AES by 108.0% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 7,280 shares of the utilities provider's stock valued at $104,000 after acquiring an additional 3,780 shares during the last quarter. Finally, Seven Mile Advisory purchased a new stake in AES during the third quarter valued at about $140,000. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Trading Up 0.0%

Shares of AES opened at $14.84 on Friday. The AES Corporation has a one year low of $12.33 and a one year high of $17.65. The stock has a 50-day moving average price of $14.69 and a 200 day moving average price of $14.72. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.65 and a current ratio of 0.73. The company has a market capitalization of $10.58 billion, a P/E ratio of 7.93 and a beta of 0.96.

AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.18. AES had a net margin of 10.78% and a return on equity of 22.66%. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.11 billion. Sell-side analysts forecast that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, July 31st. AES's payout ratio is presently 37.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AES shares. Weiss Ratings reiterated a "hold (c)" rating on shares of AES in a report on Monday, June 1st. Susquehanna lowered shares of AES from a "positive" rating to a "neutral" rating and cut their price target for the company from $16.00 to $15.00 in a report on Thursday, April 9th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.71.

AES Company Profile

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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