Bank of Montreal Can lifted its position in shares of AES Corp (NYSE:AES) by 292.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,000,507 shares of the utilities provider’s stock after purchasing an additional 11,927,913 shares during the period. Bank of Montreal Can owned about 2.42% of AES worth $224,007,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gideon Capital Advisors Inc. acquired a new stake in shares of AES during the second quarter worth about $142,000. Wedbush Securities Inc. acquired a new position in AES in the 2nd quarter valued at about $152,000. Mount Yale Investment Advisors LLC acquired a new position in AES in the 1st quarter valued at about $146,000. Cornerstone Wealth Management LLC acquired a new position in AES in the 2nd quarter valued at about $1,032,000. Finally, Chemical Bank acquired a new position in AES in the 2nd quarter valued at about $188,000. Institutional investors and hedge funds own 96.65% of the company’s stock.
AES stock traded up $0.21 during trading on Friday, hitting $14.65. The company had a trading volume of 356,422 shares, compared to its average volume of 7,553,796. The stock has a market capitalization of $9.26 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20. AES Corp has a 1-year low of $9.86 and a 1-year high of $15.11. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 3.24.
AES (NYSE:AES) last issued its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). AES had a negative net margin of 1.87% and a positive return on equity of 19.26%. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $3.41 billion. Analysts expect that AES Corp will post 1.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.55%. AES’s payout ratio is 48.15%.
AES has been the topic of several recent research reports. ValuEngine upgraded AES from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday. Morgan Stanley boosted their price target on AES from $13.50 to $14.00 and gave the company a “hold” rating in a research report on Friday, September 21st. UBS Group boosted their price target on AES from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, June 20th. Finally, Bank of America cut AES from a “neutral” rating to an “underperform” rating and set a $12.50 price target on the stock. in a research report on Monday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. AES presently has a consensus rating of “Hold” and a consensus target price of $14.00.
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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