BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in AES Corp (NYSE:AES) by 89.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 671,455 shares of the utilities provider’s stock after acquiring an additional 317,420 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.10% of AES worth $9,004,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mizuho Securities USA LLC purchased a new position in AES during the 1st quarter worth approximately $114,000. Evergreen Capital Management LLC purchased a new position in AES during the 1st quarter worth approximately $117,000. Lakeview Capital Partners LLC purchased a new position in AES during the 1st quarter worth approximately $124,000. Miles Capital Inc. purchased a new position in AES during the 1st quarter worth approximately $142,000. Finally, Gideon Capital Advisors Inc. purchased a new position in AES during the 2nd quarter worth approximately $142,000. Institutional investors and hedge funds own 96.64% of the company’s stock.
NYSE:AES opened at $13.90 on Friday. The company has a market cap of $9.20 billion, a P/E ratio of 12.87, a PEG ratio of 1.43 and a beta of 1.17. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 3.24. AES Corp has a 52-week low of $9.86 and a 52-week high of $14.11.
AES (NYSE:AES) last posted its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). AES had a positive return on equity of 19.26% and a negative net margin of 1.87%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $3.41 billion. research analysts expect that AES Corp will post 1.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 3.74%. AES’s payout ratio is 48.15%.
A number of research firms recently issued reports on AES. Bank of America downgraded AES from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 16th. They noted that the move was a valuation call. Zacks Investment Research downgraded AES from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. UBS Group raised their price target on AES from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 20th. Finally, Scotiabank upgraded AES from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. AES has a consensus rating of “Hold” and a consensus target price of $13.00.
AES Company Profile
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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