Point72 Asset Management L.P. Buys New Shares in The AES Co. (NYSE:AES)

Point72 Asset Management L.P. purchased a new stake in shares of The AES Co. (NYSE:AES) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 9,450,401 shares of the utilities provider’s stock, valued at approximately $121,627,000.

Several other large investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its stake in AES by 190.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider’s stock worth $31,000 after buying an additional 1,581 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of AES by 79.5% during the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 1,201 shares during the period. WR Wealth Planners LLC increased its stake in AES by 93.3% in the fourth quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 1,369 shares during the period. Covestor Ltd raised its position in AES by 601.5% in the fourth quarter. Covestor Ltd now owns 5,745 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 4,926 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in AES by 18,047.1% during the fourth quarter. AlphaQuest LLC now owns 6,170 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 6,136 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AES. Barclays cut their target price on AES from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Seaport Res Ptn cut AES from a “hold” rating to a “strong sell” rating in a report on Monday, March 3rd. HSBC lowered their target price on shares of AES from $15.00 to $14.00 in a report on Monday, May 5th. Mizuho reduced their price target on shares of AES from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Finally, Susquehanna dropped their price objective on shares of AES from $16.00 to $15.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.33.

AES Stock Performance

Shares of AES stock opened at $12.50 on Thursday. The stock has a market cap of $8.90 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94. The stock has a 50-day moving average of $11.28 and a 200-day moving average of $12.04. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The AES Co. has a one year low of $9.57 and a one year high of $22.21.

AES (NYSE:AES) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.10). AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that The AES Co. will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.176 per share. The ex-dividend date is Thursday, May 1st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.63%. AES’s payout ratio is 38.04%.

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.