Studio Investment Management LLC Purchases New Holdings in The AES Corporation $AES

Key Points

• Studio Investment Management LLC acquired a new stake in The AES Corporation, purchasing 62,049 shares valued at approximately $653,000.
• The AES Corporation reported earnings of $0.51 per share for the last quarter, exceeding analysts’ expectations, but experienced a 3.0% decline in revenue year-over-year.
• A quarterly dividend of $0.176 per share was announced, set to be paid on November 14th, representing an annualized yield of 4.9%.

Studio Investment Management LLC purchased a new stake in The AES Corporation (NYSE:AES - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,049 shares of the utilities provider's stock, valued at approximately $653,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in AES by 15.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 144,881 shares of the utilities provider's stock worth $1,799,000 after purchasing an additional 19,866 shares during the period. Janney Montgomery Scott LLC increased its position in AES by 65.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 163,526 shares of the utilities provider's stock worth $2,031,000 after purchasing an additional 64,577 shares during the period. State of Alaska Department of Revenue increased its position in AES by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 83,328 shares of the utilities provider's stock worth $1,034,000 after purchasing an additional 2,265 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in AES by 49.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 92,318 shares of the utilities provider's stock worth $1,147,000 after purchasing an additional 30,363 shares during the period. Finally, TrueMark Investments LLC acquired a new position in AES during the 1st quarter worth approximately $143,000. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Price Performance

AES stock opened at $14.32 on Wednesday. The AES Corporation has a 1 year low of $9.46 and a 1 year high of $17.37. 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's 50 day moving average price is $13.54 and its 200 day moving average price is $12.10. The firm has a market cap of $10.19 billion, a P/E ratio of 10.08, a PEG ratio of 0.59 and a beta of 0.93.

AES (NYSE:AES - Get Free Report) last posted 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. AES had a return on equity of 19.02% and a net margin of 8.42%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the company earned $0.38 EPS. AES's revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts expect that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.176 per share. The ex-dividend date is Friday, October 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.9%. AES's dividend payout ratio (DPR) is 49.30%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AES. JPMorgan Chase & Co. boosted their target price on AES from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Susquehanna boosted their price target on AES from $16.00 to $17.00 and gave the stock a "positive" rating in a research note on Monday, October 13th. Evercore ISI assumed coverage on AES in a research note on Monday, October 6th. They set an "in-line" rating and a $15.00 price target on the stock. Barclays boosted their price target on AES from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of AES in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, AES has an average rating of "Hold" and an average target price of $23.90.

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.

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