Teacher Retirement System of Texas Buys New Stake in The AES Corporation (NYSE:AES)

Teacher Retirement System of Texas acquired a new stake in shares of The AES Corporation (NYSE:AES - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 216,978 shares of the utilities provider's stock, valued at approximately $2,695,000.

Other hedge funds have also recently modified their holdings of the company. Novem Group lifted its stake in AES by 46.4% in the 1st quarter. Novem Group now owns 15,215 shares of the utilities provider's stock worth $189,000 after purchasing an additional 4,823 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of AES by 23.4% in the first quarter. Miller Howard Investments Inc. NY now owns 207,942 shares of the utilities provider's stock worth $2,583,000 after buying an additional 39,486 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in AES during the 1st quarter valued at approximately $177,000. Summit Trail Advisors LLC bought a new stake in AES in the 1st quarter worth approximately $166,000. Finally, Cidel Asset Management Inc. purchased a new stake in shares of AES during the 1st quarter worth approximately $135,000. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Trading Up 1.6%

AES traded up $0.20 on Friday, reaching $12.61. 20,985,247 shares of the company traded hands, compared to its average volume of 13,795,431. The company has a market cap of $8.98 billion, a P/E ratio of 6.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 3.42. The AES Corporation has a one year low of $9.46 and a one year high of $20.30. The firm has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $11.22.

AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.10). The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.13 billion. AES had a net margin of 10.67% and a return on equity of 18.06%. The business's revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities research analysts expect that The AES Corporation will post 1.93 earnings per share for the current year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a yield of 5.58%. AES's dividend payout ratio (DPR) is 38.04%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AES shares. Wells Fargo & Company increased their price objective on shares of AES from $108.00 to $112.00 in a research report on Friday, May 2nd. JPMorgan Chase & Co. dropped their price target on AES from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. HSBC decreased their price objective on AES from $15.00 to $14.00 in a research report on Monday, May 5th. Jefferies Financial Group lowered AES from a "hold" rating to an "underperform" rating and decreased their price target for the company from $10.00 to $9.00 in a report on Tuesday, May 20th. Finally, Argus reaffirmed a "hold" rating on shares of AES in a research note on Tuesday, May 27th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, AES presently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

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.