Legal & General Group Plc Buys New Holdings in The AES Corporation $AES

Key Points

• Legal & General Group acquired 1.34 million AES shares worth approximately $19.6 million, representing about 0.19% of the company. Institutional investors now own 93.13% of AES, with BlackRock and other major firms also increasing or initiating positions.
• AES reported quarterly earnings of $0.60 per share, beating analysts’ $0.45 estimate, while revenue reached $3.42 billion versus the $3.11 billion consensus. The company also pays a quarterly dividend of $0.176 per share, equivalent to a 4.8% annual yield.
• Analysts maintain a generally neutral view, with eight analysts rating AES a Hold and an average price target of $15.71, modestly above the reported share price of $14.73.

Legal & General Group Plc acquired 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 and Exchange Commission (SEC). The fund acquired 1,336,645 shares of the utilities provider's stock, valued at approximately $19,595,000. Legal & General Group Plc owned approximately 0.19% of AES as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AES. BlackRock Inc. acquired a new position in AES during the second quarter worth $722,429,000. SG Americas Securities LLC increased its position in shares of AES by 99.8% during the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider's stock worth $201,215,000 after acquiring an additional 7,133,230 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of AES in the 2nd quarter worth about $97,056,000. Deutsche Bank AG bought a new position in AES in the 2nd quarter valued at about $35,158,000. Finally, Kryger Capital LLC acquired a new position in AES during the 1st quarter valued at about $31,702,000. 93.13% of the stock is currently owned by institutional investors.

AES Stock Performance

Shares of AES opened at $14.73 on Friday. The stock has a 50 day moving average of $14.73 and a 200 day moving average of $14.73. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 5.62 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. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93.

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

AES Announces Dividend

The business also recently announced 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 of this dividend was Friday, July 31st. AES's dividend payout ratio is currently 26.72%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of AES from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, AES currently has an average rating of "Hold" and an average target price of $15.71.

AES 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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