Madison Asset Management LLC Has $7.75 Million Stake in The AES Corporation $AES

Madison Asset Management LLC reduced its stake in The AES Corporation (NYSE:AES) by 49.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 550,000 shares of the utilities provider’s stock after selling 544,000 shares during the period. Madison Asset Management LLC’s holdings in AES were worth $7,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new position in AES during the 1st quarter worth $78,000. Root Financial Partners LLC lifted its position in shares of AES by 259.9% during the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 2,038 shares during the period. SG Americas Securities LLC grew its holdings in shares of AES by 99.8% during the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock worth $201,215,000 after purchasing an additional 7,133,230 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of AES in the first quarter worth $1,842,000. Finally, State of Tennessee Department of Treasury raised its stake in AES by 10.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 169,520 shares of the utilities provider’s stock valued at $2,483,000 after purchasing an additional 15,661 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AES shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AES in a research report on Monday, June 1st. Susquehanna cut shares of AES from a “positive” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $15.00 in a research report on Thursday, April 9th. Finally, Argus downgraded shares of AES from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.71.

AES Trading Up 0.0%

AES opened at $14.80 on Wednesday. The company has a market cap of $10.56 billion, a P/E ratio of 7.92 and a beta of 0.96. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 2.97. The company’s 50 day moving average is $14.67 and its 200-day moving average is $14.71. The AES Corporation has a 1-year low of $12.33 and a 1-year high of $17.65.

AES (NYSE:AES) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.50 by $0.18. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.11 billion. AES had a net margin of 10.78% and a return on equity of 22.66%. Equities research analysts predict that The AES Corporation will post 2.27 earnings per share for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.176 per share. The ex-dividend date is Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. AES’s payout ratio is currently 37.43%.

AES Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.