Brasada Capital Management LP reduced its position in AES Corp (NYSE:AES) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 313,012 shares of the utilities provider’s stock after selling 8,472 shares during the period. AES comprises approximately 1.4% of Brasada Capital Management LP’s holdings, making the stock its 21st largest position. Brasada Capital Management LP’s holdings in AES were worth $5,115,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citizens Financial Group Inc RI raised its stake in AES by 1,375.4% during the 3rd quarter. Citizens Financial Group Inc RI now owns 1,741 shares of the utilities provider’s stock valued at $28,000 after buying an additional 1,623 shares during the last quarter. CWM LLC raised its stake in AES by 116.4% during the 3rd quarter. CWM LLC now owns 1,913 shares of the utilities provider’s stock valued at $31,000 after buying an additional 1,029 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in AES during the 2nd quarter valued at $36,000. Endurance Wealth Management Inc. purchased a new stake in AES during the 3rd quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in AES during the 3rd quarter valued at $45,000. Institutional investors own 93.32% of the company’s stock.
In other news, SVP Julian Nebreda sold 18,864 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.24, for a total transaction of $287,487.36. Following the completion of the sale, the senior vice president now owns 35,314 shares of the company’s stock, valued at approximately $538,185.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Ubben acquired 200,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.25 per share, with a total value of $3,050,000.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
Shares of AES stock opened at $17.64 on Friday. AES Corp has a 1 year low of $13.55 and a 1 year high of $18.52. The firm has a fifty day moving average price of $16.49 and a 200-day moving average price of $16.39. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.36 and a quick ratio of 1.24. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.51 and a beta of 1.05.
AES (NYSE:AES) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. AES had a net margin of 3.78% and a return on equity of 18.94%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities research analysts expect that AES Corp will post 1.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.137 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, October 31st. AES’s payout ratio is 44.35%.
A number of equities research analysts have weighed in on AES shares. Evercore ISI set a $19.00 target price on shares of AES and gave the company a “buy” rating in a research note on Wednesday, August 7th. TheStreet upgraded shares of AES from a “c+” rating to a “b” rating in a research note on Wednesday. ValuEngine upgraded shares of AES from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley boosted their target price on shares of AES from $17.50 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.64.
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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