NewEdge Advisors LLC Raises Stake in The AES Corporation $AES

Key Points

• NewEdge Advisors LLC increased its holdings in The AES Corporation by 55.4%, owning 237,825 shares worth approximately $2.95 million following the purchase of an additional 84,831 shares.
• Several other institutions have also boosted their stakes in AES, with 93.13% of the company's stock now owned by hedge funds and institutional investors.
• The AES Corporation reported $0.51 earnings per share (EPS) for the last quarter, beating analyst expectations while experiencing a 3.0% year-over-year revenue decline.

NewEdge Advisors LLC raised its position in shares of The AES Corporation (NYSE:AES - Free Report) by 55.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 237,825 shares of the utilities provider's stock after purchasing an additional 84,831 shares during the quarter. NewEdge Advisors LLC's holdings in AES were worth $2,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its position in shares of AES by 33.5% during the first quarter. Hexagon Capital Partners LLC now owns 3,880 shares of the utilities provider's stock valued at $48,000 after buying an additional 974 shares during the last quarter. Diversify Advisory Services LLC raised its position in shares of AES by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 20,904 shares of the utilities provider's stock valued at $260,000 after buying an additional 1,006 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of AES by 4.0% during the first quarter. Kestra Private Wealth Services LLC now owns 26,290 shares of the utilities provider's stock valued at $327,000 after buying an additional 1,011 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of AES by 1.1% during the first quarter. Yousif Capital Management LLC now owns 94,686 shares of the utilities provider's stock valued at $1,176,000 after buying an additional 1,012 shares during the last quarter. Finally, Moloney Securities Asset Management LLC raised its position in shares of AES by 5.0% during the first quarter. Moloney Securities Asset Management LLC now owns 24,752 shares of the utilities provider's stock valued at $307,000 after buying an additional 1,173 shares during the last quarter. Institutional investors own 93.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AES. Jefferies Financial Group cut shares of AES from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $10.00 to $9.00 in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price target on shares of AES from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Barclays boosted their price target on shares of AES from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna boosted their price target on shares of AES from $15.00 to $16.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Finally, Argus restated a "hold" rating on shares of AES in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.67.

AES Trading Up 0.2%

NYSE AES traded up $0.03 on Friday, hitting $12.88. 12,349,586 shares of the stock were exchanged, compared to its average volume of 8,267,119. 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 stock has a fifty day moving average price of $13.10 and a two-hundred day moving average price of $11.75. The firm has a market capitalization of $9.17 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.54 and a beta of 0.92. 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 posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.39 by $0.12. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.97 billion. AES had a net margin of 8.42% and a return on equity of 19.02%. AES's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. Research analysts forecast that The AES Corporation will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, August 1st. AES's payout ratio is currently 49.30%.

AES Company 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.