Man Group plc Acquires New Holdings in The AES Corporation $AES

Man Group plc bought a new stake in The AES Corporation (NYSE:AES) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,444,679 shares of the utilities provider’s stock, valued at approximately $65,159,000. Man Group plc owned about 0.62% of AES at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Root Financial Partners LLC boosted its holdings in shares of AES by 259.9% in the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock valued at $40,000 after buying an additional 2,038 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in AES in the fourth quarter valued at approximately $42,000. Burnham & Co LLC purchased a new position in AES in the second quarter worth $44,000. EverSource Wealth Advisors LLC increased its position in shares of AES by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 2,006 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in shares of AES during the 1st quarter valued at $78,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Stock Performance

Shares of AES opened at $14.72 on Wednesday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The stock has a 50-day moving average of $14.72 and a two-hundred day moving average of $14.75. The stock has a market cap of $10.51 billion, a P/E ratio of 5.62 and a beta of 0.97. The AES Corporation has a one year low of $12.33 and a one year high of $17.65.

AES (NYSE:AES) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.15. The firm 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%. As a group, research analysts predict that The AES Corporation will post 2.27 EPS for the current year.

AES Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Eight equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.71.

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.