96,435 Shares in The AES Corporation $AES Acquired by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in shares of The AES Corporation (NYSE:AES) during the second quarter, HoldingsChannel reports. The fund bought 96,435 shares of the utilities provider’s stock, valued at approximately $1,413,000.

Other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC lifted its position in shares of 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 in the last quarter. Burnham & Co LLC acquired a new stake in shares of AES during the second quarter valued at $44,000. Los Angeles Capital Management LLC purchased a new stake in AES during the 4th quarter worth about $42,000. EverSource Wealth Advisors LLC raised its stake in 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 last quarter. Finally, Sound Income Strategies LLC purchased a new position in AES in the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Performance

Shares of AES opened at $14.80 on Friday. The AES Corporation has a fifty-two week low of $12.33 and a fifty-two week high of $17.65. The company has a market capitalization of $10.56 billion, a PE ratio of 5.65 and a beta of 0.97. The stock has a fifty day moving average of $14.74 and a two-hundred day moving average of $14.68. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75.

AES (NYSE:AES) last posted 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 business had revenue of $3.42 billion for 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, analysts forecast that The AES Corporation will post 2.23 EPS for the current year.

AES Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Eight analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.