Glazer Capital LLC Acquires Shares of 1,689,649 The AES Corporation $AES

Glazer Capital LLC bought a new position in The AES Corporation (NYSE:AES) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,689,649 shares of the utilities provider’s stock, valued at approximately $24,770,000. AES comprises approximately 0.6% of Glazer Capital LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in AES by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock worth $854,000 after purchasing an additional 3,936 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of AES by 259.7% in the first quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider’s stock valued at $675,000 after purchasing an additional 39,283 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of AES in the first quarter worth $190,000. Empowered Funds LLC grew its holdings in shares of AES by 763.3% during the first quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider’s stock valued at $1,824,000 after buying an additional 129,841 shares in the last quarter. Finally, Woodline Partners LP raised its position in AES by 40.7% during the first quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider’s stock valued at $746,000 after buying an additional 17,372 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Trading Down 0.0%

NYSE:AES opened at $14.72 on Friday. The company has a market capitalization of $10.51 billion, a P/E ratio of 5.62 and a beta of 0.97. The stock’s 50 day moving average price is $14.73 and its 200 day moving average price is $14.73. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The AES Corporation has a 52 week low of $12.33 and a 52 week high of $17.65.

AES (NYSE:AES) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, research analysts forecast that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.176 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. AES’s dividend payout ratio is currently 26.72%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded AES from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Eight analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.71.

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.