Madison Investment Holdings Inc. lessened its position in shares of AES Corp (NYSE:AES) by 10.6% in the second quarter, HoldingsChannel.com reports. The fund owned 1,984,381 shares of the utilities provider’s stock after selling 235,394 shares during the period. Madison Investment Holdings Inc.’s holdings in AES were worth $26,611,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hexavest Inc. acquired a new position in AES during the second quarter valued at approximately $36,387,000. Bank of Montreal Can raised its position in AES by 69.7% during the second quarter. Bank of Montreal Can now owns 4,072,594 shares of the utilities provider’s stock valued at $54,614,000 after purchasing an additional 1,672,483 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in AES by 209.6% during the first quarter. The Manufacturers Life Insurance Company now owns 1,918,267 shares of the utilities provider’s stock valued at $21,810,000 after purchasing an additional 1,298,686 shares in the last quarter. Summit Trail Advisors LLC raised its position in AES by 1,206.6% during the first quarter. Summit Trail Advisors LLC now owns 1,251,110 shares of the utilities provider’s stock valued at $1,251,000 after purchasing an additional 1,155,354 shares in the last quarter. Finally, Aristotle Capital Management LLC raised its position in AES by 6.1% during the first quarter. Aristotle Capital Management LLC now owns 18,490,269 shares of the utilities provider’s stock valued at $210,234,000 after purchasing an additional 1,069,686 shares in the last quarter. Institutional investors own 94.35% of the company’s stock.
Several research analysts have commented on AES shares. Bank of America downgraded shares of AES from a “neutral” rating to an “underperform” rating and set a $12.50 price objective for the company. in a research report on Monday, July 2nd. Morgan Stanley started coverage on shares of AES in a research report on Friday, April 27th. They set a “weight” rating and a $13.50 price objective for the company. UBS Group boosted their price objective on shares of AES from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, June 20th. Scotiabank upgraded shares of AES from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, May 9th. Finally, Zacks Investment Research downgraded shares of AES from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. AES currently has an average rating of “Hold” and an average price target of $13.00.
Shares of NYSE:AES opened at $13.96 on Tuesday. The firm has a market cap of $9.22 billion, a PE ratio of 12.93, a P/E/G ratio of 1.44 and a beta of 1.17. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.32 and a quick ratio of 1.18. AES Corp has a 52-week low of $9.86 and a 52-week high of $14.00.
AES (NYSE:AES) last announced its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $3.41 billion. AES had a positive return on equity of 19.26% and a negative net margin of 1.87%. sell-side analysts anticipate that AES Corp will post 1.21 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, August 2nd. This represents a $0.52 annualized dividend and a dividend yield of 3.72%. AES’s dividend payout ratio (DPR) is presently 48.15%.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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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