Korea Investment CORP Increases Stock Holdings in The AES Co. (NYSE:AES)

Korea Investment CORP grew its position in The AES Co. (NYSE:AES) by 196.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 750,600 shares of the utilities provider’s stock after buying an additional 497,100 shares during the quarter. Korea Investment CORP’s holdings in The AES were worth $19,568,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AES. E Fund Management Co. Ltd. purchased a new position in shares of The AES in the first quarter valued at $31,000. CKW Financial Group acquired a new stake in shares of The AES during the second quarter valued at $33,000. Berman Capital Advisors LLC boosted its stake in shares of The AES by 118.6% during the first quarter. Berman Capital Advisors LLC now owns 1,340 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 727 shares during the last quarter. Red Door Wealth Management LLC acquired a new stake in shares of The AES during the second quarter valued at $41,000. Finally, Credit Agricole S A boosted its stake in shares of The AES by 160.1% during the second quarter. Credit Agricole S A now owns 1,834 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.

The AES stock opened at $23.44 on Friday. The stock’s 50-day moving average is $24.14 and its 200-day moving average is $25.60. The company has a market cap of $15.62 billion, a price-to-earnings ratio of -111.61, a price-to-earnings-growth ratio of 1.90 and a beta of 0.81. The company has a debt-to-equity ratio of 4.29, a current ratio of 1.28 and a quick ratio of 1.17. The AES Co. has a 12 month low of $17.46 and a 12 month high of $29.07.

The AES (NYSE:AES) last released its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.32 billion. The AES had a positive return on equity of 28.07% and a negative net margin of 2.30%. During the same period last year, the business posted $0.25 EPS. Research analysts anticipate that The AES Co. will post 1.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Monday, August 2nd were issued a $0.1505 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.57%. The AES’s dividend payout ratio (DPR) is 41.67%.

In related news, EVP Tish Mendoza sold 32,028 shares of the firm’s stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $24.38, for a total transaction of $780,842.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Santos Bernerd Da sold 51,941 shares of the firm’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $24.33, for a total value of $1,263,724.53. Following the sale, the chief operating officer now owns 224,339 shares in the company, valued at $5,458,167.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,634 shares of company stock worth $8,046,163. Company insiders own 1.59% of the company’s stock.

A number of analysts recently commented on the company. Susquehanna assumed coverage on The AES in a research note on Monday, June 21st. They set a “positive” rating and a $32.00 price objective on the stock. Susquehanna Bancshares assumed coverage on The AES in a research note on Monday, June 21st. They set a “positive” rating and a $32.00 price objective on the stock. Wolfe Research raised The AES from a “market perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research note on Friday, August 6th. Zacks Investment Research raised The AES from a “sell” rating to a “hold” rating and set a $26.00 price target on the stock in a research note on Thursday, September 2nd. Finally, Morgan Stanley raised their price target on The AES from $29.50 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, August 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $29.80.

The AES Profile

AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU and Corporate and Other.

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Institutional Ownership by Quarter for The AES (NYSE:AES)

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