Edgestream Partners L.P. Acquires New Position in The AES Corporation (NYSE:AES)

Edgestream Partners L.P. acquired a new stake in The AES Corporation (NYSE:AES) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 495,995 shares of the utilities provider’s stock, valued at approximately $6,160,000. Edgestream Partners L.P. owned 0.07% of AES at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. FMR LLC raised its holdings in AES by 19.5% in the fourth quarter. FMR LLC now owns 49,173,626 shares of the utilities provider’s stock worth $632,865,000 after purchasing an additional 8,027,426 shares during the period. Ameriprise Financial Inc. grew its position in AES by 35.7% in the fourth quarter. Ameriprise Financial Inc. now owns 28,571,119 shares of the utilities provider’s stock valued at $367,499,000 after purchasing an additional 7,519,129 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AES by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 16,895,678 shares of the utilities provider’s stock valued at $216,862,000 after acquiring an additional 381,761 shares during the period. Invesco Ltd. grew its position in shares of AES by 64.2% in the 4th quarter. Invesco Ltd. now owns 15,948,807 shares of the utilities provider’s stock valued at $205,261,000 after acquiring an additional 6,238,087 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of AES during the 4th quarter worth about $121,627,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Stock Performance

AES opened at $12.59 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 3.42. The company’s fifty day moving average price is $10.96 and its two-hundred day moving average price is $11.20. The AES Corporation has a 1-year low of $9.46 and a 1-year high of $20.30. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 1.69 and a beta of 0.95.

AES (NYSE:AES) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.10). The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.13 billion. AES had a net margin of 10.67% and a return on equity of 18.06%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. On average, analysts expect that The AES Corporation will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date is Friday, August 1st. AES’s dividend payout ratio is currently 38.04%.

Analyst Ratings Changes

Several brokerages have weighed in on AES. Wells Fargo & Company lifted their price objective on shares of AES from $108.00 to $112.00 in a research note on Friday, May 2nd. Citigroup reduced their target price on shares of AES from $23.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Argus reissued a “hold” rating on shares of AES in a report on Tuesday, May 27th. JPMorgan Chase & Co. reduced their price objective on shares of AES from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of AES from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

AES 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.