Heartland Advisors Inc. Invests $5,783,000 in The AES Corp. (AES)
Heartland Advisors Inc. bought a new stake in The AES Corp. (NYSE:AES) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 450,000 shares of the company’s stock, valued at approximately $5,783,000. Heartland Advisors Inc. owned 0.07% of The AES Corp. at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in The AES Corp. by 2.3% in the second quarter. Sterling Capital Management LLC now owns 42,898 shares of the company’s stock valued at $535,000 after buying an additional 955 shares during the last quarter. Fairfield Bush & CO. increased its stake in shares of The AES Corp. by 3.2% in the second quarter. Fairfield Bush & CO. now owns 45,640 shares of the company’s stock worth $570,000 after buying an additional 1,400 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of The AES Corp. by 20.4% in the third quarter. Tocqueville Asset Management L.P. now owns 12,841 shares of the company’s stock worth $165,000 after buying an additional 2,176 shares during the period. Nuveen Asset Management LLC increased its stake in shares of The AES Corp. by 1.9% in the second quarter. Nuveen Asset Management LLC now owns 211,740 shares of the company’s stock worth $2,643,000 after buying an additional 4,049 shares during the period. Finally, FDx Advisors Inc. increased its stake in shares of The AES Corp. by 5.9% in the second quarter. FDx Advisors Inc. now owns 90,040 shares of the company’s stock worth $1,124,000 after buying an additional 5,004 shares during the period. 93.83% of the stock is owned by hedge funds and other institutional investors.
The AES Corp. (NYSE:AES) traded up 2.193% during mid-day trading on Monday, hitting $11.885. The stock had a trading volume of 2,489,097 shares. The company has a 50-day moving average of $11.72 and a 200-day moving average of $11.96. The AES Corp. has a 12-month low of $8.22 and a 12-month high of $13.32. The firm’s market cap is $7.83 billion.
The AES Corp. (NYSE:AES) last announced its quarterly earnings results on Friday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.01. The AES Corp. had a negative net margin of 1.95% and a positive return on equity of 14.01%. The company earned $209.90 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that The AES Corp. will post $0.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were issued a $0.11 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.44 annualized dividend and a yield of 3.78%. The AES Corp.’s dividend payout ratio is currently -107.31%.
A number of analysts have issued reports on the company. Barclays PLC downgraded The AES Corp. from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.00 to $12.00 in a report on Tuesday, October 4th. Zacks Investment Research downgraded The AES Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, November 8th. TheStreet downgraded The AES Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Bank of America Corp. downgraded The AES Corp. from a “neutral” rating to an “underperform” rating in a report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The AES Corp. presently has an average rating of “Hold” and an average price target of $12.00.
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.
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