Mitsubishi UFJ Asset Management Co. Ltd. Takes $13.37 Million Position in The AES Corporation $AES

Key Points

• Mitsubishi UFJ Asset Management purchased 911,639 AES shares worth approximately $13.37 million, giving it a 0.13% stake. Institutional investors collectively own 93.13% of AES.
• Analysts maintain a neutral outlook, with eight analysts rating AES “Hold” and an average price target of $15.71. The stock recently traded at $14.76.
• AES exceeded quarterly earnings expectations, reporting $0.60 in EPS versus the $0.45 consensus and $3.42 billion in revenue. The company also pays a quarterly dividend of $0.176 per share, representing an annualized yield of about 4.8%.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in The AES Corporation (NYSE:AES - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 911,639 shares of the utilities provider's stock, valued at approximately $13,365,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of AES as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC lifted its position in AES by 259.9% during the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 2,038 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of AES during the 4th quarter worth $42,000. EverSource Wealth Advisors LLC grew its position in AES by 61.0% in the first 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 in the last quarter. Sound Income Strategies LLC purchased a new stake in AES during the first quarter valued at about $78,000. Finally, Clearstead Trust LLC bought a new stake in AES during the second quarter worth about $91,000. Hedge funds and other institutional investors own 93.13% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised AES from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat, AES has an average rating of "Hold" and an average target price of $15.71.

AES Stock Up 0.4%

AES stock opened at $14.76 on Friday. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 5.63 and a beta of 0.97. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The business's 50 day moving average price is $14.72 and its two-hundred day moving average price is $14.76. The AES Corporation has a fifty-two week low of $12.33 and a fifty-two week high of $17.65.

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

AES Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.176 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 annualized dividend and a yield of 4.8%. AES's dividend payout ratio is currently 26.72%.

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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