Korea Investment CORP Boosts Stake in AES Corp (AES)

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Korea Investment CORP lifted its position in shares of AES Corp (NYSE:AES) by 55.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 964,544 shares of the utilities provider’s stock after acquiring an additional 345,000 shares during the quarter. Korea Investment CORP owned approximately 0.15% of AES worth $13,504,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AES. O Shaughnessy Asset Management LLC purchased a new stake in AES during the 3rd quarter worth about $100,000. MinichMacGregor Wealth Management LLC purchased a new stake in AES during the 3rd quarter worth about $121,000. Creative Planning purchased a new stake in AES during the 3rd quarter worth about $141,000. Gideon Capital Advisors Inc. purchased a new stake in AES during the 2nd quarter worth about $142,000. Finally, Wedbush Securities Inc. purchased a new stake in AES during the 2nd quarter worth about $152,000. Institutional investors own 97.33% of the company’s stock.

A number of brokerages recently issued reports on AES. TheStreet raised AES from a “c+” rating to a “b” rating in a report on Tuesday, November 6th. Morgan Stanley reissued a “hold” rating and set a $14.50 price objective (up previously from $14.00) on shares of AES in a report on Thursday, October 11th. ValuEngine raised AES from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. AES presently has a consensus rating of “Hold” and a consensus target price of $14.00.

NYSE:AES opened at $15.49 on Friday. AES Corp has a twelve month low of $9.86 and a twelve month high of $16.28. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 3.17, a quick ratio of 1.10 and a current ratio of 1.24.

AES (NYSE:AES) last released its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. AES had a positive return on equity of 19.50% and a negative net margin of 2.48%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that AES Corp will post 1.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 3.36%. AES’s payout ratio is currently 48.15%.

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About AES

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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Institutional Ownership by Quarter for AES (NYSE:AES)

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