Victory Capital Management Inc. lifted its position in The AES Co. (NYSE:AES – Get Rating) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 862,163 shares of the utilities provider’s stock after purchasing an additional 16,620 shares during the quarter. Victory Capital Management Inc. owned 0.13% of AES worth $18,824,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in AES. Riverview Trust Co bought a new stake in shares of AES in the 1st quarter worth about $25,000. Allworth Financial LP increased its position in AES by 9,238.5% in the 1st quarter. Allworth Financial LP now owns 1,214 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 1,201 shares in the last quarter. Allegheny Financial Group LTD bought a new position in shares of AES in the fourth quarter worth about $67,000. CWM LLC bought a new position in AES in the 4th quarter worth approximately $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in AES in the 4th quarter worth approximately $85,000. Institutional investors own 92.97% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on AES. Susquehanna Bancshares dropped their price objective on shares of AES from $32.00 to $30.00 in a research report on Tuesday, May 10th. Morgan Stanley dropped their target price on shares of AES from $29.00 to $28.50 and set an “overweight” rating for the company in a research report on Thursday, June 23rd. Credit Suisse Group assumed coverage on shares of AES in a research report on Monday, April 25th. They set a “neutral” rating and a $25.00 target price for the company. Finally, Susquehanna dropped their target price on shares of AES from $32.00 to $30.00 in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and an average price target of $28.50.
AES Price Performance
AES (NYSE:AES – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). AES had a negative net margin of 2.21% and a positive return on equity of 33.02%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the firm earned $0.28 EPS. AES’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that The AES Co. will post 1.6 earnings per share for the current year.
AES Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be paid a $0.158 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, July 29th. AES’s payout ratio is presently -233.33%.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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