Legal & General Group Plc Invests $19.59 Million in The AES Corporation $AES

Legal & General Group Plc acquired a new position in The AES Corporation (NYSE:AES) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,336,645 shares of the utilities provider’s stock, valued at approximately $19,595,000.

Other large investors have also recently modified their holdings of the company. Root Financial Partners LLC raised its position in shares of AES by 259.9% in the first 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. Los Angeles Capital Management LLC purchased a new position in AES in the 4th quarter valued at approximately $42,000. Burnham & Co LLC bought a new stake in AES during the 2nd quarter valued at $44,000. EverSource Wealth Advisors LLC lifted its position in shares of AES by 61.0% during 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 bought a new position in shares of AES in the first quarter worth $78,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

AES Trading Down 0.1%

Shares of AES stock opened at $14.73 on Friday. The company has a market capitalization of $10.51 billion, a PE ratio of 5.62 and a beta of 0.97. The AES Corporation has a 52-week low of $12.33 and a 52-week high of $17.65. The business’s fifty day moving average is $14.73 and its 200 day moving average 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.

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. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.11 billion. AES had a return on equity of 20.69% and a net margin of 14.30%. On average, equities research analysts anticipate that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 annualized dividend and a dividend yield of 4.8%. AES’s payout ratio is presently 26.72%.

About AES

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.