Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of AES Corp (NYSE:AES) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 300,852 shares of the utilities provider’s stock after purchasing an additional 38,722 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AES were worth $4,359,000 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. Oppenheimer Asset Management Inc. boosted its stake in shares of AES by 0.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 205,273 shares of the utilities provider’s stock worth $2,792,000 after buying an additional 890 shares during the period. Monarch Capital Management Inc. raised its stake in AES by 1.8% during the 2nd quarter. Monarch Capital Management Inc. now owns 50,850 shares of the utilities provider’s stock valued at $737,000 after acquiring an additional 900 shares during the last quarter. Focused Wealth Management Inc lifted its position in AES by 19.3% during the 1st quarter. Focused Wealth Management Inc now owns 6,800 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 1,100 shares during the period. Parallel Advisors LLC grew its stake in shares of AES by 74.8% in the 1st 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 during the last quarter. Finally, Globeflex Capital L P increased its holdings 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 during the period. Institutional investors own 92.93% of the company’s stock.
Shares of AES stock opened at $15.23 on Friday. The stock has a fifty day moving average price of $14.34 and a 200 day moving average price of $15.28. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.97 and a current ratio of 1.06. The stock has a market cap of $10.13 billion, a PE ratio of 34.61, a P/E/G ratio of 1.55 and a beta of 0.99. AES Corp has a 1 year low of $8.11 and a 1 year high of $21.23.
AES (NYSE:AES) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.73 billion. AES had a return on equity of 23.42% and a net margin of 2.97%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, equities research analysts predict that AES Corp will post 1.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Monday, August 3rd will be issued a $0.1433 dividend. This represents a $0.57 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Friday, July 31st. AES’s dividend payout ratio (DPR) is presently 41.91%.
Several brokerages recently weighed in on AES. Seaport Global Securities initiated coverage on shares of AES in a research report on Wednesday, May 20th. They issued a “buy” rating and a $17.00 price objective on the stock. Morgan Stanley lowered their target price on shares of AES from $18.50 to $18.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Monday, April 13th. ValuEngine lowered AES from a “hold” rating to a “sell” rating in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on AES from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, June 2nd. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. AES has an average rating of “Buy” and a consensus price target of $17.67.
In related news, Director Jeffrey W. Ubben acquired 500,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $12.22 per share, for a total transaction of $6,110,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.54% of the stock is owned by corporate insiders.
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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