BI Asset Management Fondsmaeglerselskab A S Makes New Investment in The AES Corporation $AES

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of The AES Corporation (NYSE:AES) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 348,370 shares of the utilities provider’s stock, valued at approximately $4,585,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Shore Management Inc CT increased its holdings in shares of AES by 32.3% in the second quarter. Sound Shore Management Inc CT now owns 8,067,687 shares of the utilities provider’s stock worth $84,872,000 after purchasing an additional 1,969,741 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of AES by 10.9% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 7,812,629 shares of the utilities provider’s stock valued at $82,189,000 after acquiring an additional 769,168 shares in the last quarter. SG Americas Securities LLC grew its stake in AES by 58.2% in the 3rd quarter. SG Americas Securities LLC now owns 3,126,053 shares of the utilities provider’s stock worth $41,139,000 after buying an additional 1,150,644 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of AES by 975.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,086,164 shares of the utilities provider’s stock worth $32,466,000 after buying an additional 2,799,148 shares during the last quarter. Finally, Rhumbline Advisers grew its position in AES by 3.4% in the second quarter. Rhumbline Advisers now owns 1,323,908 shares of the utilities provider’s stock worth $13,927,000 after acquiring an additional 43,578 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Stock Performance

Shares of AES stock opened at $16.03 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 3.15. The stock has a fifty day moving average of $14.31 and a 200 day moving average of $13.87. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.58 and a beta of 1.00. The AES Corporation has a 52 week low of $9.46 and a 52 week high of $16.19.

AES (NYSE:AES) last posted its earnings results on Tuesday, November 4th. The utilities provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. AES had a net margin of 9.47% and a return on equity of 18.83%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period last year, the company posted $0.71 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that The AES Corporation will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a $0.176 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.4%. AES’s dividend payout ratio is currently 43.75%.

Analyst Upgrades and Downgrades

AES has been the topic of several recent research reports. Barclays reiterated an “equal weight” rating and set a $15.00 price objective on shares of AES in a research report on Wednesday. Morgan Stanley increased their price target on shares of AES from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Mizuho boosted their price objective on shares of AES from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Susquehanna increased their target price on shares of AES from $16.00 to $17.00 and gave the company a “positive” rating in a report on Monday, October 13th. Finally, Jefferies Financial Group boosted their price target on shares of AES from $13.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, AES presently has an average rating of “Moderate Buy” and a consensus price target of $24.08.

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.