56,325 Shares in The AES Corporation $AES Bought by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new position in shares of The AES Corporation (NYSE:AES) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 56,325 shares of the utilities provider’s stock, valued at approximately $826,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AES. Root Financial Partners LLC boosted its position in shares of AES by 259.9% in the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,038 shares during the period. Burnham & Co LLC purchased a new stake in AES during the second quarter valued at about $44,000. Los Angeles Capital Management LLC acquired a new position in shares of AES in the fourth quarter worth about $42,000. EverSource Wealth Advisors LLC increased its position in shares of AES by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock worth $75,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of AES in the first quarter worth approximately $78,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Ratings Changes

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

AES Trading Down 0.0%

NYSE AES opened at $14.72 on Friday. The AES Corporation has a 1-year low of $12.33 and a 1-year high of $17.65. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $10.51 billion, a PE ratio of 5.62 and a beta of 0.97. The firm’s fifty day simple moving average is $14.73 and its 200-day simple moving average is $14.73.

AES (NYSE:AES) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. AES had a return on equity of 20.69% and a net margin of 14.30%.The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.11 billion. As a group, sell-side analysts anticipate that The AES Corporation will post 2.27 earnings per share for the current fiscal year.

AES Dividend Announcement

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

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.