Tidal Investments LLC Purchases 189,691 Shares of The AES Corporation $AES

Key Points

• Tidal Investments increased its AES position by 188% in the second quarter, purchasing 189,691 additional shares and bringing its total holdings to 290,604 shares valued at approximately $4.26 million.
• Institutional ownership remains high at 93.13%, with BlackRock, SG Americas Securities, and California State Teachers Retirement System among investors that recently increased or initiated positions.
• AES reported quarterly earnings of $0.60 per share, exceeding estimates of $0.45, while analysts maintain a consensus “Hold” rating with an average price target of $15.71. The company also offers an annualized dividend of $0.70 per share, yielding about 4.8%.

Tidal Investments LLC grew its position in shares of The AES Corporation (NYSE:AES - Free Report) by 188.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 290,604 shares of the utilities provider's stock after acquiring an additional 189,691 shares during the period. Tidal Investments LLC's holdings in AES were worth $4,260,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in AES during the 2nd quarter valued at about $722,429,000. SG Americas Securities LLC lifted its holdings in AES by 99.8% in the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider's stock worth $201,215,000 after buying an additional 7,133,230 shares during the period. California State Teachers Retirement System grew its position in shares of AES by 1,353.8% in the 2nd quarter. California State Teachers Retirement System now owns 12,141,603 shares of the utilities provider's stock worth $177,996,000 after buying an additional 11,306,462 shares during the last quarter. Sound Shore Management Inc. CT increased its stake in shares of AES by 17.0% during the fourth quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider's stock valued at $98,922,000 after buying an additional 1,002,530 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of AES during the second quarter valued at approximately $97,056,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of 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, the stock presently has an average rating of "Hold" and an average price target of $15.71.

AES Stock Performance

Shares of AES opened at $14.80 on Tuesday. The company has a 50-day simple moving average of $14.76 and a two-hundred day simple moving average of $14.60. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The firm 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 one year low of $12.33 and a one year high of $17.65.

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

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.176 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. AES's dividend payout ratio is 26.72%.

About AES

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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