Foundry Partners LLC grew its holdings in shares of The AES Corporation (NYSE:AES - Free Report) by 39.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,349,118 shares of the utilities provider's stock after purchasing an additional 382,843 shares during the period. Foundry Partners LLC owned approximately 0.19% of AES worth $16,756,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in AES in the 4th quarter worth about $121,627,000. FMR LLC boosted its position in AES by 19.5% during the 4th quarter. FMR LLC now owns 49,173,626 shares of the utilities provider's stock worth $632,865,000 after acquiring an additional 8,027,426 shares during the period. Ameriprise Financial Inc. boosted its position in AES by 35.7% during the 4th quarter. Ameriprise Financial Inc. now owns 28,571,119 shares of the utilities provider's stock worth $367,499,000 after acquiring an additional 7,519,129 shares during the period. Invesco Ltd. boosted its position in AES by 64.2% during the 4th quarter. Invesco Ltd. now owns 15,948,807 shares of the utilities provider's stock worth $205,261,000 after acquiring an additional 6,238,087 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new stake in AES during the 4th quarter worth about $69,083,000. 93.13% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on AES from $108.00 to $112.00 in a report on Friday, May 2nd. Jefferies Financial Group lowered AES from a "hold" rating to an "underperform" rating and reduced their price target for the company from $10.00 to $9.00 in a report on Tuesday, May 20th. Wall Street Zen lowered AES from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Citigroup reduced their target price on AES from $23.00 to $14.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Argus restated a "hold" rating on shares of AES in a report on Tuesday, May 27th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, AES presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.
Check Out Our Latest Analysis on AES
AES Trading Up 1.3%
Shares of AES traded up $0.17 during trading hours on Friday, hitting $13.36. 9,221,144 shares of the stock traded hands, compared to its average volume of 13,931,050. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 3.42. The AES Corporation has a 1-year low of $9.46 and a 1-year high of $20.30. The firm has a market capitalization of $9.51 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 1.79 and a beta of 0.95. The business has a fifty day moving average of $11.21 and a 200-day moving average of $11.22.
AES (NYSE:AES - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.10). AES had a return on equity of 18.06% and a net margin of 10.67%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm's revenue was down 5.2% compared to the same quarter last year. Analysts expect that The AES Corporation will post 1.93 EPS for the current year.
AES Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.176 per share. The ex-dividend date is Friday, August 1st. This represents a $0.70 annualized dividend and a dividend yield of 5.27%. AES's dividend payout ratio is currently 38.04%.
About AES
(
Free Report)
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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