Piedmont Investment Advisors LLC Takes $668,000 Position in The AES Corporation (AES)
Piedmont Investment Advisors LLC bought a new stake in shares of The AES Corporation (NYSE:AES) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 60,577 shares of the utilities provider’s stock, valued at approximately $668,000.
A number of other institutional investors also recently added to or reduced their stakes in AES. Capital International Investors grew its stake in shares of The AES by 2.4% in the 3rd quarter. Capital International Investors now owns 24,125,215 shares of the utilities provider’s stock worth $265,860,000 after purchasing an additional 567,371 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of The AES by 7.4% in the 3rd quarter. Pinebridge Investments L.P. now owns 821,040 shares of the utilities provider’s stock worth $9,048,000 after purchasing an additional 56,826 shares during the last quarter. Barings LLC grew its stake in shares of The AES by 806.5% in the 3rd quarter. Barings LLC now owns 180,064 shares of the utilities provider’s stock worth $1,984,000 after purchasing an additional 160,200 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of The AES by 39.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,091,840 shares of the utilities provider’s stock worth $12,098,000 after purchasing an additional 307,915 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its stake in shares of The AES by 25.3% in the 3rd quarter. ETRADE Capital Management LLC now owns 62,722 shares of the utilities provider’s stock worth $691,000 after purchasing an additional 12,669 shares during the last quarter. 93.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Santos Bernerd Da bought 4,700 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $10.60 per share, with a total value of $49,820.00. Following the completion of the transaction, the chief operating officer now owns 96,186 shares of the company’s stock, valued at approximately $1,019,571.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andres Gluski bought 24,632 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average cost of $10.17 per share, for a total transaction of $250,507.44. Following the transaction, the insider now directly owns 868,396 shares of the company’s stock, valued at approximately $8,831,587.32. The disclosure for this purchase can be found here. Insiders have purchased 38,832 shares of company stock worth $401,407 in the last ninety days. 1.09% of the stock is currently owned by insiders.
Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of The AES from $14.00 to $12.50 and set an “equal weight” rating for the company in a report on Wednesday. BidaskClub upgraded shares of The AES from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine upgraded shares of The AES from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut shares of The AES from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Finally, Royal Bank of Canada restated a “hold” rating and set a $12.00 price target on shares of The AES in a report on Monday, September 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $12.70.
Shares of The AES Corporation (AES) opened at $10.80 on Friday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.99 and a quick ratio of 0.89. The stock has a market cap of $7,125.58, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. The AES Corporation has a one year low of $10.00 and a one year high of $12.10.
The AES (NYSE:AES) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.05). The AES had a negative net margin of 5.43% and a positive return on equity of 15.14%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities research analysts predict that The AES Corporation will post 1.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a $0.13 dividend. This is a positive change from The AES’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, January 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.81%. The AES’s dividend payout ratio (DPR) is currently -41.03%.
The AES Profile
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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