AES Corp (NYSE:AES) Sees Large Growth in Short Interest
AES Corp (NYSE:AES) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 14,545,700 shares, an increase of 9.8% from the May 30th total of 13,245,900 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily volume of 5,740,000 shares, the short-interest ratio is presently 2.5 days.
AES opened at $17.15 on Tuesday. AES has a fifty-two week low of $12.71 and a fifty-two week high of $18.52. The company has a quick ratio of 1.21, a current ratio of 1.34 and a debt-to-equity ratio of 3.27. The firm has a fifty day moving average price of $16.70. The stock has a market capitalization of $11.34 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.
AES (NYSE:AES) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts predict that AES will post 1.33 earnings per share for the current year.
In other AES news, insider Jeffrey W. Ubben bought 2,582,000 shares of AES stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $16.10 per share, with a total value of $41,570,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey W. Ubben bought 2,482,000 shares of AES stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $16.11 per share, with a total value of $39,985,020.00. The disclosure for this purchase can be found here. Company insiders own 1.06% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Clark Capital Management Group Inc. acquired a new position in AES during the second quarter worth about $20,005,000. Nisa Investment Advisors LLC boosted its position in AES by 3.6% during the second quarter. Nisa Investment Advisors LLC now owns 598,787 shares of the utilities provider’s stock worth $10,036,000 after acquiring an additional 20,793 shares during the last quarter. Hennessy Advisors Inc. boosted its position in AES by 3.0% during the second quarter. Hennessy Advisors Inc. now owns 1,340,200 shares of the utilities provider’s stock worth $22,462,000 after acquiring an additional 39,100 shares during the last quarter. DAVENPORT & Co LLC boosted its position in AES by 3.2% during the second quarter. DAVENPORT & Co LLC now owns 90,115 shares of the utilities provider’s stock worth $1,510,000 after acquiring an additional 2,756 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its position in AES by 99.1% during the second quarter. Douglass Winthrop Advisors LLC now owns 130,838 shares of the utilities provider’s stock worth $2,193,000 after acquiring an additional 65,138 shares during the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.
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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