Wealthfront Advisers LLC Takes $527,000 Position in The AES Corporation $AES

Wealthfront Advisers LLC acquired a new position in shares of The AES Corporation (NYSE:AES) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 35,981 shares of the utilities provider’s stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in AES by 259.9% in the first 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. Los Angeles Capital Management LLC bought a new position in shares of AES during the 4th quarter valued at about $42,000. EverSource Wealth Advisors LLC grew its position in shares of AES by 61.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 2,006 shares during the period. Sound Income Strategies LLC bought a new stake in AES during the 1st quarter worth approximately $78,000. Finally, Clearstead Trust LLC acquired a new stake in AES during the 2nd quarter worth approximately $91,000. 93.13% of the stock is currently owned by institutional investors.

AES Stock Performance

AES opened at $14.77 on Friday. The business’s 50-day moving average price is $14.72 and its two-hundred day moving average price is $14.76. The AES Corporation has a 1 year low of $12.33 and a 1 year high of $17.65. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 5.64 and a beta of 0.97. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67.

AES (NYSE:AES) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.15. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.11 billion. AES had a return on equity of 20.69% and a net margin of 14.30%. Equities analysts expect that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.176 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. AES’s dividend payout ratio is 26.72%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.71.

AES Company 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.