The AES Corporation $AES Holdings Decreased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its AES stake by 66.1% in the second quarter, selling 413,091 shares and retaining 211,639 shares valued at approximately $3.1 million.
• Other institutional activity was largely positive, including major new positions from BlackRock, Bank of New York Mellon and Bank of America. Institutional investors collectively own 93.13% of AES shares.
• AES reported quarterly EPS of $0.60, beating estimates by $0.15, on revenue of $3.42 billion. Analysts maintain a consensus “Hold” rating with an average price target of $15.71, while the company’s annualized dividend yield is approximately 4.8%.

Engineers Gate Manager LP decreased its stake in The AES Corporation (NYSE:AES - Free Report) by 66.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,639 shares of the utilities provider's stock after selling 413,091 shares during the quarter. Engineers Gate Manager LP's holdings in AES were worth $3,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AES. BlackRock Inc. acquired a new position in AES in the second quarter valued at approximately $722,429,000. California State Teachers Retirement System raised its position in shares of AES by 1,353.8% during the 2nd quarter. California State Teachers Retirement System now owns 12,141,603 shares of the utilities provider's stock valued at $177,996,000 after acquiring an additional 11,306,462 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of AES by 99.8% in the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider's stock valued at $201,215,000 after purchasing an additional 7,133,230 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of AES in the 2nd quarter valued at $97,056,000. Finally, Bank of America Corp DE bought a new position in shares of AES in the 2nd quarter worth $80,584,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

AES Price Performance

NYSE:AES opened at $14.79 on Monday. The stock has a market capitalization of $10.56 billion, a PE ratio of 5.65 and a beta of 0.97. The AES Corporation has a 1-year low of $12.33 and a 1-year high of $17.65. The firm has a fifty day simple moving average of $14.76 and a 200 day simple moving average of $14.61. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93.

AES (NYSE:AES - Get Free Report) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, research analysts expect that The AES Corporation will post 2.23 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, July 31st. AES's dividend payout ratio (DPR) is currently 26.72%.

AES Company Profile

The AES Corporation NYSE: AES is a global energy company that develops, owns and operates electricity generation and distribution businesses. Its portfolio includes renewable energy projects, natural gas and other power-generation facilities, battery energy storage systems, and utility operations. AES serves utilities, commercial and industrial customers, and other energy users through long-term power supply arrangements and related services.

The company has increasingly focused on renewable energy and energy infrastructure, including solar, wind and storage projects designed to support the transition to lower-carbon electricity systems.

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