Vazirani Asset Management LLC Purchases New Stake in The AES Corporation $AES

Key Points

• Vazirani Asset Management initiated a 240,000-share AES position worth approximately $3.5 million, while institutional investors collectively own 93.13% of the company.
• AES reported quarterly EPS of $0.60, beating the $0.45 consensus estimate, and revenue of $3.42 billion versus expectations of $3.11 billion.
• The company pays a $0.70 annualized dividend, yielding about 4.8%. Analysts maintain a consensus “Hold” rating with an average price target of $15.71, compared with the stock’s $14.73 price.

Vazirani Asset Management LLC purchased a new position in The AES Corporation (NYSE:AES - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 240,000 shares of the utilities provider's stock, valued at approximately $3,518,400. AES comprises about 0.0% of Vazirani Asset Management LLC's portfolio, making the stock its largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in AES in the 2nd quarter valued at about $722,429,000. SG Americas Securities LLC boosted its stake in AES by 99.8% during the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider's stock worth $201,215,000 after purchasing an additional 7,133,230 shares during the period. Sound Shore Management Inc. CT raised its stake in shares of AES by 17.0% during the 4th quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider's stock worth $98,922,000 after buying an additional 1,002,530 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of AES in the 2nd quarter worth $97,056,000. Finally, Man Group plc acquired a new stake in AES in the second quarter worth $65,159,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Stock Down 0.1%

Shares of AES stock traded down $0.02 during mid-day trading on Friday, hitting $14.73. The company's stock had a trading volume of 5,672,455 shares, compared to its average volume of 10,519,065. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The business has a 50-day moving average price of $14.73 and a 200 day moving average price of $14.73. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 5.62 and a beta of 0.97. The AES Corporation has a 52-week low of $12.33 and a 52-week high of $17.65.

AES (NYSE:AES - Get Free Report) last released its quarterly 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 return on equity of 20.69% and a net margin of 14.30%.The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.11 billion. Research analysts predict that The AES Corporation will post 2.27 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 paid a dividend of $0.176 per share. The ex-dividend date was Friday, July 31st. This represents a $0.70 annualized dividend and a yield of 4.8%. AES's dividend payout ratio is presently 26.72%.

Wall Street Analysts Forecast Growth

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

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company's portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.