The AES Corp. (AES) is Herndon Capital Management LLC’s 3rd Largest Position
Herndon Capital Management LLC raised its position in shares of The AES Corp. (NYSE:AES) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,352,280 shares of the company’s stock after buying an additional 886,881 shares during the period. The AES Corp. accounts for 4.0% of Herndon Capital Management LLC’s portfolio, making the stock its 3rd largest position. Herndon Capital Management LLC owned approximately 1.27% of The AES Corp. worth $104,232,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the stock. Invictus RG raised its stake in The AES Corp. by 21.9% in the first quarter. Invictus RG now owns 11,906 shares of the company’s stock worth $140,000 after buying an additional 2,140 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in The AES Corp. during the first quarter worth about $142,000. Oakbrook Investments LLC raised its stake in The AES Corp. by 18.4% in the second quarter. Oakbrook Investments LLC now owns 45,021 shares of the company’s stock worth $562,000 after buying an additional 7,000 shares during the period. M&T Bank Corp raised its stake in The AES Corp. by 71.2% in the first quarter. M&T Bank Corp now owns 55,161 shares of the company’s stock worth $651,000 after buying an additional 22,935 shares during the period. Finally, Euclid Advisors LLC raised its stake in shares of The AES Corp. by 291.5% in the first quarter. Euclid Advisors LLC now owns 90,590 shares of the company’s stock valued at $1,069,000 after buying an additional 67,450 shares during the last quarter. 94.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The AES Corp. (NYSE:AES) traded up 1.37% during trading on Tuesday, reaching $11.87. The company’s stock had a trading volume of 5,544,302 shares. The firm’s 50-day moving average is $12.39 and its 200 day moving average is $11.85. The company’s market cap is $7.82 billion. The AES Corp. has a 52-week low of $8.22 and a 52-week high of $13.32.
The AES Corp. (NYSE:AES) last released its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.71 billion. The AES Corp. had a positive return on equity of 13.56% and a negative net margin of 1.89%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, equities research analysts predict that The AES Corp. will post $0.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.44 annualized dividend and a yield of 3.71%. The AES Corp.’s dividend payout ratio is -107.31%.
Several analysts recently commented on the company. Barclays PLC reaffirmed an “overweight” rating and issued a $14.00 price target on shares of The AES Corp. in a research note on Thursday, July 7th. Zacks Investment Research raised The AES Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 21st. Finally, TheStreet lowered The AES Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The AES Corp. currently has a consensus rating of “Hold” and an average price target of $12.75.
About The AES Corp.
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. The Company is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and Caribbean (MCAC); Europe, and Asia.
Receive News & Stock Ratings for The AES Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The AES Corp. and related stocks with our FREE daily email newsletter.