Arizona State Retirement System reduced its position in AES Corp (NYSE:AES) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,173 shares of the utilities provider’s stock after selling 8,906 shares during the quarter. Arizona State Retirement System’s holdings in AES were worth $2,299,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC lifted its stake in shares of AES by 0.7% during the first quarter. DAVENPORT & Co LLC now owns 87,359 shares of the utilities provider’s stock worth $1,579,000 after buying an additional 596 shares during the period. Huntington National Bank lifted its stake in shares of AES by 14.0% during the fourth quarter. Huntington National Bank now owns 5,133 shares of the utilities provider’s stock worth $74,000 after buying an additional 632 shares during the period. Covington Capital Management lifted its stake in shares of AES by 55.7% during the fourth quarter. Covington Capital Management now owns 2,335 shares of the utilities provider’s stock worth $34,000 after buying an additional 835 shares during the period. M&T Bank Corp lifted its stake in shares of AES by 2.2% during the fourth quarter. M&T Bank Corp now owns 45,658 shares of the utilities provider’s stock worth $660,000 after buying an additional 995 shares during the period. Finally, Investors Research Corp lifted its stake in shares of AES by 1.7% during the fourth quarter. Investors Research Corp now owns 60,964 shares of the utilities provider’s stock worth $882,000 after buying an additional 1,000 shares during the period. 93.53% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. AES has a consensus rating of “Hold” and an average target price of $14.75.
NYSE AES opened at $16.25 on Friday. The firm has a market cap of $10.70 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. AES Corp has a 1 year low of $11.80 and a 1 year high of $18.52. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.34 and a quick ratio of 1.01.
AES (NYSE:AES) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.47 billion. AES had a net margin of 6.32% and a return on equity of 19.05%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts predict that AES Corp will post 1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.1365 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.55 dividend on an annualized basis and a yield of 3.36%. AES’s dividend payout ratio is presently 44.35%.
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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