Rakuten Investment Management Inc. Buys Shares of 75,611 The AES Corporation $AES

Key Points

• Rakuten Investment Management purchased 75,611 AES shares in the second quarter, valued at approximately $1.1 million. Institutional investors collectively own 93.13% of AES stock.
• Analysts maintain a consensus “Hold” rating, with an average price target of $15.71. AES shares opened at $14.73, within a 52-week range of $12.33 to $17.65.
• AES exceeded quarterly expectations, reporting $0.60 in EPS versus the $0.45 estimate and $3.42 billion in revenue. The company also pays a quarterly dividend of $0.176, representing an annualized yield of about 4.8%.

Rakuten Investment Management Inc. purchased a new position in shares of The AES Corporation (NYSE:AES - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 75,611 shares of the utilities provider's stock, valued at approximately $1,106,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AES. Dorsey & Whitney Trust CO LLC lifted its position in AES by 4.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 14,658 shares of the utilities provider's stock valued at $210,000 after buying an additional 671 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of AES by 2.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 32,922 shares of the utilities provider's stock valued at $472,000 after acquiring an additional 800 shares during the last quarter. Zions Bancorporation National Association UT raised its stake in shares of AES by 3.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 28,581 shares of the utilities provider's stock valued at $410,000 after acquiring an additional 852 shares during the period. S&CO Inc. lifted its holdings in shares of AES by 6.2% in the 4th quarter. S&CO Inc. now owns 17,000 shares of the utilities provider's stock worth $243,000 after acquiring an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of AES by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider's stock worth $75,000 after purchasing an additional 2,006 shares during the period. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised AES from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Eight equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.71.

AES Stock Performance

NYSE AES opened at $14.73 on Monday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The company has a market cap of $10.51 billion, a P/E ratio of 5.62 and a beta of 0.97. The stock has a 50-day moving average of $14.73 and a two-hundred day moving average of $14.72. The AES Corporation has a 1-year low of $12.33 and a 1-year high of $17.65.

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

AES Announces Dividend

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

AES Company 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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