Wealthfront Advisers LLC Purchases New Shares in The AES Corporation $AES

Wealthfront Advisers LLC purchased a new position in shares of The AES Corporation (NYSE:AES) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,981 shares of the utilities provider’s stock, valued at approximately $527,000.

A number of other hedge funds have also recently added to or reduced their stakes in AES. Root Financial Partners LLC raised its stake 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 worth $40,000 after acquiring an additional 2,038 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of AES during the fourth quarter valued at approximately $42,000. EverSource Wealth Advisors LLC increased its holdings 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 valued at $75,000 after purchasing an additional 2,006 shares in the last quarter. Sound Income Strategies LLC bought a new position in AES in the 1st quarter worth approximately $78,000. Finally, Clearstead Trust LLC acquired a new position in AES during the 2nd quarter worth $91,000. Institutional investors own 93.13% of the company’s stock.

AES Price Performance

Shares of AES stock opened at $14.77 on Friday. The business has a fifty day simple moving average of $14.72 and a 200 day simple moving average of $14.76. The stock has a market cap of $10.54 billion, a PE ratio of 5.64 and a beta of 0.97. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 2.93. The AES Corporation has a 12 month low of $12.33 and a 12 month high of $17.65.

AES (NYSE:AES) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. AES had a return on equity of 20.69% and a net margin of 14.30%. Research analysts predict 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 paid 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 yield of 4.8%. AES’s dividend payout ratio (DPR) is presently 26.72%.

Analyst Upgrades and Downgrades

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

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.