Nuveen LLC Makes New $18.36 Million Investment in The AES Corporation $AES

Key Points

• Nuveen LLC has invested approximately $18.36 million in The AES Corporation, acquiring 1,478,016 shares, which represents 0.21% ownership of the company.
• AES has recently been the subject of price target adjustments by analysts, with some increasing targets to as high as $16.00, while others have set targets as low as $14.00.
• The company reported earnings of $0.51 per share for the last quarter, surpassing expectations, despite a 3.0% decline in revenue year-over-year.

Nuveen LLC acquired a new position in The AES Corporation (NYSE:AES - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,478,016 shares of the utilities provider's stock, valued at approximately $18,357,000. Nuveen LLC owned 0.21% of AES as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Hexagon Capital Partners LLC increased its stake in shares of AES by 33.5% in the first quarter. Hexagon Capital Partners LLC now owns 3,880 shares of the utilities provider's stock worth $48,000 after purchasing an additional 974 shares during the period. Diversify Advisory Services LLC increased its stake in shares of AES by 5.1% in the first quarter. Diversify Advisory Services LLC now owns 20,904 shares of the utilities provider's stock worth $260,000 after purchasing an additional 1,006 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of AES by 4.0% in the first quarter. Kestra Private Wealth Services LLC now owns 26,290 shares of the utilities provider's stock worth $327,000 after purchasing an additional 1,011 shares during the period. Yousif Capital Management LLC increased its stake in shares of AES by 1.1% in the first quarter. Yousif Capital Management LLC now owns 94,686 shares of the utilities provider's stock worth $1,176,000 after purchasing an additional 1,012 shares during the period. Finally, Moloney Securities Asset Management LLC increased its stake in shares of AES by 5.0% in the first quarter. Moloney Securities Asset Management LLC now owns 24,752 shares of the utilities provider's stock worth $307,000 after purchasing an additional 1,173 shares during the period. 93.13% of the stock is currently owned by institutional investors.

AES Price Performance

Shares of AES stock traded up $0.01 during trading hours on Monday, hitting $13.50. The company had a trading volume of 6,339,122 shares, compared to its average volume of 9,362,092. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.62 and a beta of 0.96. 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 AES Corporation has a 12 month low of $9.46 and a 12 month high of $20.30. The firm's fifty day moving average is $12.43 and its 200 day moving average is $11.51.

AES (NYSE:AES - Get Free Report) last announced its earnings results 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 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%.AES's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. On average, sell-side analysts predict that The AES Corporation will post 1.93 EPS for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $0.176 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.70 annualized dividend and a yield of 5.2%. AES's dividend payout ratio is currently 49.30%.

Analyst Ratings Changes

A number of research firms have recently commented on AES. Barclays lifted their price objective on AES from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on AES from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Jefferies Financial Group downgraded AES from a "hold" rating to an "underperform" rating and reduced their price objective for the stock from $10.00 to $9.00 in a research report on Tuesday, May 20th. Susquehanna boosted their price objective on AES from $15.00 to $16.00 and gave the company a "positive" rating in a research report on Monday, July 21st. Finally, Argus reaffirmed a "hold" rating on shares of AES in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.67.

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.