The AES Corporation $AES Stake Raised by Howard Capital Management LLC

Key Points

• Howard Capital Management increased its AES stake by 26.2% in the third quarter, adding 93,463 shares to own 450,416 shares valued at approximately $6.7 million.
• Several other institutional investors also raised their positions, with hedge funds and other institutions collectively owning 93.13% of AES.
• AES reported quarterly earnings of $0.60 per share, exceeding estimates of $0.45, and declared a quarterly dividend of $0.1759, equivalent to a 4.7% annualized yield. Analysts maintain a consensus “Hold” rating with a $15.83 average price target.

Howard Capital Management LLC grew its stake in The AES Corporation (NYSE:AES - Free Report) by 26.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 450,416 shares of the utilities provider's stock after acquiring an additional 93,463 shares during the period. Howard Capital Management LLC owned about 0.06% of AES worth $6,711,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in AES. V Square Quantitative Management LLC boosted its stake in shares of AES by 12.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 22,980 shares of the utilities provider's stock valued at $342,000 after buying an additional 2,474 shares during the period. B.A. Schrock Wealth Management Inc. purchased a new position in AES in the third quarter worth approximately $574,000. Mather Group LLC. lifted its stake in AES by 15.3% in the third quarter. Mather Group LLC. now owns 32,582 shares of the utilities provider's stock worth $485,000 after acquiring an additional 4,334 shares during the last quarter. Wedmont Private Capital grew its holdings in AES by 6.2% during the 3rd quarter. Wedmont Private Capital now owns 17,078 shares of the utilities provider's stock worth $255,000 after acquiring an additional 1,001 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in AES by 47.4% during the 3rd quarter. GAMMA Investing LLC now owns 49,985 shares of the utilities provider's stock worth $745,000 after acquiring an additional 16,064 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Stock Performance

Shares of AES stock traded down $0.03 on Friday, reaching $14.95. 13,177,382 shares of the stock were exchanged, compared to its average volume of 9,328,936. The firm has a market capitalization of $10.66 billion, a PE ratio of 5.70 and a beta of 0.97. The AES Corporation has a 1-year low of $13.21 and a 1-year high of $17.65. The business has a fifty day moving average price of $14.82 and a two-hundred day moving average price of $14.67. 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 EPS for the quarter, topping 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 company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. As a group, research analysts anticipate that The AES Corporation will post 2.02 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.1759 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. AES's dividend payout ratio (DPR) is currently 26.72%.

Analyst Ratings Changes

Separately, Weiss Ratings raised AES from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Seven equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.83.

AES Profile

AES Corporation is a global energy company that develops, owns and operates electricity generation and utility businesses. Its activities include renewable energy, natural gas-fired generation, battery energy storage and other energy infrastructure, as well as the distribution of electricity to customers through regulated utility operations.

The company serves residential, commercial and industrial customers in the United States and international markets, including countries in Latin America.

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