Patrick Mauro Investment Advisor INC. Invests $1.77 Million in The AES Corporation $AES

Patrick Mauro Investment Advisor INC. bought a new position in shares of The AES Corporation (NYSE:AES) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 120,633 shares of the utilities provider’s stock, valued at approximately $1,768,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bruni J V & Co. Co. purchased a new position in AES in the second quarter valued at approximately $245,555,000. Great Lakes Advisors LLC purchased a new stake in shares of AES during the 2nd quarter worth approximately $2,916,000. Diversify Advisory Services LLC acquired a new position in shares of AES in the 2nd quarter valued at $166,000. Wealthfront Advisers LLC purchased a new position in shares of AES in the 2nd quarter valued at $527,000. Finally, Energy Income Partners LLC acquired a new stake in AES during the 2nd quarter worth $27,080,000. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Down 0.2%

AES stock opened at $14.71 on Thursday. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 5.62 and a beta of 0.97. The company has a fifty day moving average price of $14.72 and a 200 day moving average price of $14.76. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The AES Corporation has a 12 month low of $12.33 and a 12 month high of $17.65.

AES (NYSE:AES) last issued 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 company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. Sell-side analysts expect that The AES Corporation will post 2.27 earnings per share for the current year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.176 dividend. 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 26.72%.

Analysts Set New Price Targets

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

About AES

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.