240,000 Shares in The AES Corporation $AES Acquired by Vazirani Asset Management LLC

Vazirani Asset Management LLC bought a new position in The AES Corporation (NYSE:AES) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 240,000 shares of the utilities provider’s stock, valued at approximately $3,518,400,000. AES makes up approximately 17.3% of Vazirani Asset Management LLC’s investment portfolio, making the stock its biggest holding.

A number of other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC raised 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 worth $40,000 after buying an additional 2,038 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in AES during the fourth quarter worth about $42,000. Burnham & Co LLC bought a new position in AES in the 2nd quarter worth about $44,000. EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 2,006 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of AES during the 1st quarter valued at about $78,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Stock Performance

NYSE AES opened at $14.73 on Thursday. The firm has a market cap of $10.51 billion, a PE ratio of 5.62 and a beta of 0.97. The AES Corporation has a 1-year low of $12.33 and a 1-year high of $17.65. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93. The stock has a 50-day moving average of $14.73 and a 200-day moving average of $14.74.

AES (NYSE:AES) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.11 billion. AES had a net margin of 14.30% and a return on equity of 20.69%. As a group, sell-side analysts forecast 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 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 dividend payout ratio (DPR) is 26.72%.

Analyst Upgrades and Downgrades

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