OVERSEA CHINESE BANKING Corp Ltd Makes New $437,000 Investment in The AES Corporation (NYSE:AES)

Key Points

• Oversea Chinese Banking Corp Ltd has acquired a new stake in The AES Corporation, purchasing 35,178 shares valued at approximately $437,000.
• AES reported a quarterly earnings per share of $0.51, exceeding analyst expectations, although its revenue was down 3% year-over-year, totaling $2.86 billion.
• The company recently announced a quarterly dividend of $0.176, representing an annualized dividend yield of 5.3%.

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in The AES Corporation (NYSE:AES - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 35,178 shares of the utilities provider's stock, valued at approximately $437,000.

Other large investors have also recently made changes to their positions in the company. LPL Financial LLC raised its stake in AES by 8.1% in the 4th quarter. LPL Financial LLC now owns 519,975 shares of the utilities provider's stock valued at $6,692,000 after acquiring an additional 38,964 shares during the period. Schroder Investment Management Group grew its holdings in AES by 19.3% during the 4th quarter. Schroder Investment Management Group now owns 54,449 shares of the utilities provider's stock valued at $689,000 after buying an additional 8,809 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of AES by 20.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,439,334 shares of the utilities provider's stock worth $18,524,000 after buying an additional 242,942 shares in the last quarter. Geode Capital Management LLC grew its stake in AES by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 16,895,678 shares of the utilities provider's stock valued at $216,862,000 after acquiring an additional 381,761 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in AES in the 4th quarter worth approximately $2,602,000. 93.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of AES from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna upped their target price on AES from $15.00 to $16.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of AES from $108.00 to $112.00 in a report on Friday, May 2nd. Argus reiterated a "hold" rating on shares of AES in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. lifted their price objective on AES from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.67.

AES Stock Performance

NYSE:AES traded up $0.02 during mid-day trading on Thursday, reaching $12.86. The company's stock had a trading volume of 6,845,658 shares, compared to its average volume of 16,030,404. The firm's fifty day moving average price is $11.82 and its two-hundred day moving average price is $11.32. The company has a current ratio of 0.82, a quick ratio of 0.74 and a debt-to-equity ratio of 3.46. The stock has a market cap of $9.15 billion, a P/E ratio of 9.05, a PEG ratio of 1.52 and a beta of 0.96. The AES Corporation has a 12-month low of $9.46 and a 12-month high of $20.30.

AES (NYSE:AES - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.12. AES had a net margin of 8.42% and a return on equity of 19.02%. The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.97 billion. During the same quarter in the prior year, the business earned $0.38 EPS. The business's quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that The AES Corporation will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $0.176 per share. The ex-dividend date is Friday, August 1st. This represents a $0.70 dividend on an annualized basis and a yield of 5.5%. AES's payout ratio is presently 49.30%.

AES 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.