Pacer Advisors Inc. raised its holdings in AES Corp (NYSE:AES) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,155 shares of the utilities provider’s stock after purchasing an additional 7,523 shares during the quarter. Pacer Advisors Inc.’s holdings in AES were worth $1,146,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealthcare Advisory Partners LLC acquired a new position in shares of AES during the second quarter worth about $36,000. North Star Investment Management Corp. acquired a new position in shares of AES during the third quarter worth about $58,000. Focused Wealth Management Inc acquired a new position in shares of AES during the second quarter worth about $75,000. Institutional & Family Asset Management LLC increased its stake in shares of AES by 58.7% during the second quarter. Institutional & Family Asset Management LLC now owns 5,934 shares of the utilities provider’s stock worth $99,000 after acquiring an additional 2,194 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in AES during the first quarter worth about $137,000. Institutional investors own 93.32% of the company’s stock.
AES traded up $0.07 on Friday, hitting $17.64. 4,610,577 shares of the company were exchanged, compared to its average volume of 5,414,291. AES Corp has a fifty-two week low of $13.55 and a fifty-two week high of $18.52. The firm has a market capitalization of $11.41 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.24 and a current ratio of 1.36. The business’s fifty day moving average is $16.49 and its 200 day moving average is $16.39.
AES (NYSE:AES) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.08. AES had a net margin of 3.78% and a return on equity of 18.94%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Analysts forecast that AES Corp will post 1.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.137 dividend. This represents a $0.55 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, October 31st. AES’s dividend payout ratio (DPR) is presently 44.35%.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of AES from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI set a $19.00 target price on shares of AES and gave the stock a “buy” rating in a research report on Wednesday, August 7th. TheStreet upgraded shares of AES from a “c+” rating to a “b” rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of AES from $17.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.64.
In other AES news, SVP Julian Nebreda sold 18,864 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $15.24, for a total transaction of $287,487.36. Following the transaction, the senior vice president now owns 35,314 shares of the company’s stock, valued at $538,185.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey W. Ubben purchased 200,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.25 per share, for a total transaction of $3,050,000.00. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.
AES Company Profile
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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