Southpoint Capital Advisors LP Acquires 5,828,221 Shares of The AES Co. (NYSE:AES)

Southpoint Capital Advisors LP raised its holdings in The AES Co. (NYSE:AES) by 3,392.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,000,000 shares of the utilities provider’s stock after acquiring an additional 5,828,221 shares during the quarter. The AES comprises 2.7% of Southpoint Capital Advisors LP’s portfolio, making the stock its 16th largest position. Southpoint Capital Advisors LP owned approximately 0.90% of The AES worth $160,860,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Capital International Investors raised its holdings in The AES by 35.6% in the first quarter. Capital International Investors now owns 44,271,361 shares of the utilities provider’s stock worth $1,186,934,000 after purchasing an additional 11,630,244 shares during the period. Parnassus Investments CA acquired a new stake in The AES in the first quarter worth $86,850,000. Third Point LLC acquired a new stake in The AES in the first quarter worth $49,598,000. Zimmer Partners LP acquired a new stake in The AES in the first quarter worth $44,196,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of The AES by 31.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,257,005 shares of the utilities provider’s stock worth $167,751,000 after acquiring an additional 1,507,011 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AES stock traded down $0.36 during midday trading on Thursday, hitting $24.00. 48,293 shares of the company were exchanged, compared to its average volume of 4,564,160. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of -65.84, a P/E/G ratio of 1.91 and a beta of 0.82. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 3.97. The firm has a 50 day moving average price of $25.45. The AES Co. has a 52 week low of $14.83 and a 52 week high of $29.07.

The AES (NYSE:AES) last announced its earnings results on Wednesday, May 5th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.39 billion. The AES had a positive return on equity of 26.18% and a negative net margin of 2.47%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, equities research analysts predict that The AES Co. will post 1.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be issued a $0.1505 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, July 30th. The AES’s dividend payout ratio is currently 41.67%.

Several brokerages have issued reports on AES. Susquehanna began coverage on shares of The AES in a research note on Monday, June 21st. They issued a “positive” rating and a $32.00 price target on the stock. Susquehanna Bancshares began coverage on shares of The AES in a research note on Monday, June 21st. They issued a “positive” rating and a $32.00 price target on the stock. TheStreet lowered shares of The AES from a “b-” rating to a “c” rating in a research note on Thursday, May 6th. Finally, Morgan Stanley decreased their price objective on shares of The AES from $30.50 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, May 18th. Four analysts have rated the stock with a buy rating, The AES presently has an average rating of “Buy” and a consensus price target of $30.00.

The AES Profile

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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Institutional Ownership by Quarter for The AES (NYSE:AES)

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