The Manufacturers Life Insurance Company Takes $22.22 Million Position in The AES Corporation $AES

The Manufacturers Life Insurance Company purchased a new position in shares of The AES Corporation (NYSE:AES) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,515,619 shares of the utilities provider’s stock, valued at approximately $22,219,000.

A number of other large investors have also recently added to or reduced their stakes in AES. BlackRock Inc. purchased a new position in AES in the second quarter worth approximately $722,429,000. SG Americas Securities LLC raised its position in AES by 99.8% in the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock valued at $201,215,000 after purchasing an additional 7,133,230 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of AES in the 2nd quarter valued at $97,056,000. Deutsche Bank AG acquired a new position in shares of AES in the 2nd quarter valued at $35,158,000. Finally, Kryger Capital LLC purchased a new position in shares of AES during the 1st quarter worth $31,702,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AES Stock Performance

NYSE:AES opened at $14.72 on Friday. The AES Corporation has a fifty-two week low of $12.33 and a fifty-two week high of $17.65. 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 company has a 50 day moving average price of $14.73 and a 200 day moving average price of $14.73. The stock has a market capitalization of $10.51 billion, a P/E ratio of 5.62 and a beta of 0.97.

AES (NYSE:AES) last announced its earnings results 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 company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. Equities research analysts forecast that The AES Corporation will post 2.27 EPS for the current year.

AES Dividend Announcement

The company 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. 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%.

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.