Penn Mutual Asset Management lessened its holdings in shares of The AES Corporation (NYSE:AES - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,500 shares of the utilities provider's stock after selling 56,000 shares during the quarter. AES makes up about 1.5% of Penn Mutual Asset Management's portfolio, making the stock its 13th biggest holding. Penn Mutual Asset Management's holdings in AES were worth $789,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in AES. Optiver Holding B.V. boosted its stake in AES by 79.5% during the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock worth $35,000 after purchasing an additional 1,201 shares during the last quarter. Garde Capital Inc. acquired a new stake in AES during the 1st quarter worth $35,000. CVA Family Office LLC boosted its stake in AES by 200.6% during the 1st quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock worth $40,000 after purchasing an additional 2,169 shares during the last quarter. Headlands Technologies LLC acquired a new stake in AES during the 1st quarter worth $40,000. Finally, McIlrath & Eck LLC boosted its stake in AES by 760.4% during the 4th quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider's stock worth $43,000 after purchasing an additional 2,958 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on AES shares. HSBC lowered their price target on shares of AES from $15.00 to $14.00 in a research report on Monday, May 5th. Argus reissued a "hold" rating on shares of AES in a research report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price target on shares of AES from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of AES from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Citigroup lowered their price target on shares of AES from $23.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, AES presently has an average rating of "Moderate Buy" and an average price target of $24.67.
Read Our Latest Report on AES
AES Trading Up 3.0%
NYSE AES traded up $0.3870 on Friday, reaching $13.3570. The stock had a trading volume of 2,598,729 shares, compared to its average volume of 15,454,245. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 1.58 and a beta of 0.96. The company has a quick ratio of 0.74, a current ratio of 0.82 and a debt-to-equity ratio of 3.46. The AES Corporation has a 12-month low of $9.46 and a 12-month high of $20.30. The stock has a fifty day moving average price of $12.35 and a two-hundred day moving average price of $11.45.
AES (NYSE:AES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.12. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. AES had a return on equity of 19.02% and a net margin of 8.42%.The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, sell-side analysts forecast that The AES Corporation will post 1.93 EPS for the current fiscal year.
AES Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, August 1st. AES's dividend payout ratio is currently 49.30%.
AES Profile
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Free Report)
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.
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