OppenheimerFunds Inc. lowered its holdings in AES Corp (NYSE:AES) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,973,185 shares of the utilities provider’s stock after selling 32,561 shares during the period. OppenheimerFunds Inc. owned 0.30% of AES worth $35,675,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in AES. Vanguard Group Inc grew its position in shares of AES by 6.1% in the third quarter. Vanguard Group Inc now owns 81,854,306 shares of the utilities provider’s stock valued at $1,145,960,000 after purchasing an additional 4,727,278 shares during the period. Oregon Public Employees Retirement Fund grew its position in AES by 1,769.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,851,301 shares of the utilities provider’s stock valued at $335,000 after acquiring an additional 4,591,766 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its position in AES by 361.8% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,673,591 shares of the utilities provider’s stock valued at $66,418,000 after acquiring an additional 2,878,179 shares during the period. JPMorgan Chase & Co. grew its position in AES by 40.6% during the first quarter. JPMorgan Chase & Co. now owns 5,478,822 shares of the utilities provider’s stock valued at $99,056,000 after acquiring an additional 1,582,707 shares during the period. Finally, American Century Companies Inc. grew its position in AES by 94.8% during the fourth quarter. American Century Companies Inc. now owns 3,187,343 shares of the utilities provider’s stock valued at $46,089,000 after acquiring an additional 1,550,783 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, June 4th. Argus raised AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $14.25.
In related news, Director Jeffrey W. Ubben acquired 2,482,000 shares of AES stock in a transaction on Thursday, May 9th. The shares were bought at an average price of $16.11 per share, for a total transaction of $39,985,020.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey W. Ubben acquired 2,582,000 shares of AES stock in a transaction on Monday, May 13th. The shares were bought at an average price of $16.10 per share, for a total transaction of $41,570,200.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
AES stock traded up $0.34 during trading on Wednesday, reaching $16.72. 90,233 shares of the stock traded hands, compared to its average volume of 5,999,615. AES Corp has a 52-week low of $12.55 and a 52-week high of $18.52. The company has a current ratio of 1.34, a quick ratio of 1.21 and a debt-to-equity ratio of 3.27. The company has a market cap of $11.05 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06.
AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). AES had a net margin of 6.32% and a return on equity of 19.05%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm posted $0.28 EPS. AES’s revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that AES Corp will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.1365 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Tuesday, April 30th. AES’s dividend payout ratio is presently 44.35%.
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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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