ETRADE Capital Management LLC reduced its position in shares of AES Corp (NYSE:AES) by 14.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,310 shares of the utilities provider’s stock after selling 12,297 shares during the period. ETRADE Capital Management LLC’s holdings in AES were worth $984,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors boosted its stake in AES by 69.8% during the fourth quarter. Capital World Investors now owns 73,251,344 shares of the utilities provider’s stock worth $1,457,702,000 after buying an additional 30,109,393 shares during the period. FMR LLC boosted its stake in AES by 45.9% during the fourth quarter. FMR LLC now owns 26,528,636 shares of the utilities provider’s stock worth $527,919,000 after buying an additional 8,346,247 shares during the period. Goldman Sachs Group Inc. boosted its stake in AES by 16.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,300,273 shares of the utilities provider’s stock worth $284,576,000 after buying an additional 2,033,389 shares during the period. Renaissance Technologies LLC boosted its stake in AES by 26.8% during the fourth quarter. Renaissance Technologies LLC now owns 13,558,100 shares of the utilities provider’s stock worth $269,806,000 after buying an additional 2,866,806 shares during the period. Finally, Geode Capital Management LLC boosted its stake in AES by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 12,433,614 shares of the utilities provider’s stock worth $247,008,000 after buying an additional 908,587 shares during the period. Hedge funds and other institutional investors own 92.33% of the company’s stock.
NYSE AES opened at $12.24 on Friday. The firm has a 50 day simple moving average of $12.96 and a 200-day simple moving average of $17.02. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.97 and a current ratio of 1.06. AES Corp has a one year low of $8.11 and a one year high of $21.23. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 1.24 and a beta of 1.02.
AES (NYSE:AES) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. AES had a net margin of 2.97% and a return on equity of 23.42%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts predict that AES Corp will post 1.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.1433 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.57 dividend on an annualized basis and a yield of 4.68%. AES’s dividend payout ratio is currently 41.91%.
In other news, Director Jeffrey W. Ubben purchased 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $11.67 per share, for a total transaction of $5,835,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Morse, Jr. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $12.99 per share, with a total value of $129,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $129,900. The disclosure for this purchase can be found here. Insiders purchased 539,293 shares of company stock valued at $6,277,461 in the last quarter. 1.54% of the stock is owned by insiders.
Several brokerages have weighed in on AES. SunTrust Banks increased their target price on shares of AES from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Seaport Global Securities began coverage on shares of AES in a research note on Wednesday. They set a “buy” rating and a $17.00 target price for the company. Morgan Stanley increased their target price on shares of AES from $17.50 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. ValuEngine lowered shares of AES from a “hold” rating to a “sell” rating in a research note on Tuesday, April 21st. Finally, Bank of America raised shares of AES from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday, March 30th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $17.75.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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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