Temasek Holdings Private Ltd acquired a new stake in shares of The AES Co. (NYSE:AES - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 167,907 shares of the utilities provider's stock, valued at approximately $3,368,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in AES by 18.2% during the third quarter. State Street Corp now owns 38,651,752 shares of the utilities provider's stock valued at $775,354,000 after acquiring an additional 5,960,546 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in AES by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider's stock valued at $134,286,000 after buying an additional 82,956 shares during the period. M&G PLC lifted its position in AES by 12.7% during the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider's stock valued at $130,235,000 after buying an additional 732,457 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AES by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider's stock worth $83,805,000 after acquiring an additional 141,565 shares in the last quarter. Finally, Empower Advisory Group LLC raised its stake in shares of AES by 5.8% in the 3rd quarter. Empower Advisory Group LLC now owns 3,522,334 shares of the utilities provider's stock valued at $70,658,000 after acquiring an additional 193,755 shares during the period. Hedge funds and other institutional investors own 93.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on AES shares. Susquehanna cut their price objective on AES from $24.00 to $21.00 and set a "positive" rating on the stock in a research report on Tuesday, November 5th. Bank of America initiated coverage on AES in a research report on Monday, November 25th. They set an "underperform" rating and a $11.00 price objective for the company. Barclays boosted their target price on AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Evercore ISI upgraded AES to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, Mizuho cut their target price on AES from $24.00 to $16.00 and set an "outperform" rating on the stock in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.22.
Check Out Our Latest Stock Report on AES
AES Trading Down 1.1 %
Shares of AES stock traded down $0.14 on Friday, reaching $13.15. 4,446,795 shares of the company's stock were exchanged, compared to its average volume of 9,140,508. The firm's 50-day moving average is $15.74 and its two-hundred day moving average is $17.46. The company has a market capitalization of $9.35 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The AES Co. has a 52 week low of $12.53 and a 52 week high of $22.21.
AES (NYSE:AES - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.46 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's revenue was down 4.2% on a year-over-year basis. Sell-side analysts predict that The AES Co. will post 1.95 EPS for the current fiscal year.
AES Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.1725 per share. The ex-dividend date was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.25%. AES's payout ratio is 47.92%.
AES Company Profile
(
Free Report)
The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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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