First Horizon Advisors Inc. Acquires 8,042 Shares of The AES Corporation $AES

First Horizon Advisors Inc. raised its holdings in The AES Corporation (NYSE:AES) by 448.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,836 shares of the utilities provider’s stock after acquiring an additional 8,042 shares during the period. First Horizon Advisors Inc.’s holdings in AES were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AES. Headlands Technologies LLC acquired a new position in AES during the 1st quarter worth approximately $40,000. Brooklyn Investment Group grew its stake in shares of AES by 48.6% during the first quarter. Brooklyn Investment Group now owns 4,271 shares of the utilities provider’s stock worth $53,000 after buying an additional 1,397 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of AES during the first quarter worth $67,000. GAMMA Investing LLC lifted its stake in shares of AES by 24.8% in the 2nd quarter. GAMMA Investing LLC now owns 9,095 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,805 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of AES during the 1st quarter valued at $135,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Price Performance

AES stock opened at $14.12 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.82 and a debt-to-equity ratio of 3.46. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.59 and a beta of 0.98. The company’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $12.47. The AES Corporation has a 12-month low of $9.46 and a 12-month high of $15.51.

AES (NYSE:AES) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. AES had a return on equity of 19.02% and a net margin of 8.42%.The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period last year, the company posted $0.71 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts expect that The AES Corporation will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, October 31st. AES’s dividend payout ratio is presently 43.75%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on AES from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Barclays upped their price objective on AES from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Evercore ISI initiated coverage on shares of AES in a research report on Monday, October 6th. They set an “in-line” rating and a $15.00 target price on the stock. Weiss Ratings raised shares of AES from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Finally, Morgan Stanley raised their price target on shares of AES from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.