Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of AES Corp (NYSE:AES) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,764,196 shares of the utilities provider’s stock after selling 65,739 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.57% of AES worth $54,543,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in AES by 0.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 205,273 shares of the utilities provider’s stock worth $2,792,000 after purchasing an additional 890 shares during the period. Monarch Capital Management Inc. grew its position in shares of AES by 1.8% in the second quarter. Monarch Capital Management Inc. now owns 50,850 shares of the utilities provider’s stock valued at $737,000 after purchasing an additional 900 shares in the last quarter. Focused Wealth Management Inc grew its position in shares of AES by 19.3% in the first quarter. Focused Wealth Management Inc now owns 6,800 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 1,100 shares in the last quarter. Parallel Advisors LLC grew its position in shares of AES by 74.8% in the first quarter. Parallel Advisors LLC now owns 2,654 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Globeflex Capital L P grew its position in shares of AES by 5.8% in the first quarter. Globeflex Capital L P now owns 23,034 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 1,255 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
In related news, Director Jeffrey W. Ubben acquired 500,000 shares of AES stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $12.22 per share, for a total transaction of $6,110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.54% of the stock is currently owned by company insiders.
AES opened at $15.23 on Friday. AES Corp has a 52 week low of $8.11 and a 52 week high of $21.23. The business has a fifty day simple moving average of $14.34 and a 200-day simple moving average of $15.28. The firm has a market cap of $10.13 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.55 and a beta of 0.99. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 4.00.
AES (NYSE:AES) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.73 billion. AES had a return on equity of 23.42% and a net margin of 2.97%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. Sell-side analysts expect that AES Corp will post 1.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Monday, August 3rd will be paid a $0.1433 dividend. This represents a $0.57 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, July 31st. AES’s payout ratio is currently 41.91%.
A number of research firms have recently issued reports on AES. TheStreet upgraded AES from a “c” rating to a “b-” rating in a research report on Thursday, May 7th. Seaport Global Securities assumed coverage on AES in a research report on Wednesday, May 20th. They issued a “buy” rating and a $17.00 price objective for the company. Morgan Stanley lowered their price objective on AES from $18.50 to $18.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. ValuEngine lowered AES from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lowered their price objective on AES from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. AES currently has a consensus rating of “Buy” and a consensus target price of $17.67.
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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