Vazirani Asset Management LLC Acquires New Shares in The AES Corporation $AES

Vazirani Asset Management LLC purchased a new stake in The AES Corporation (NYSE:AES) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 240,000 shares of the utilities provider’s stock, valued at approximately $3,518,400,000. AES comprises approximately 17.3% of Vazirani Asset Management LLC’s portfolio, making the stock its largest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Root Financial Partners LLC increased its holdings in AES by 259.9% in the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 2,038 shares in the last quarter. Burnham & Co LLC acquired a new position in shares of AES during the second quarter valued at about $44,000. Los Angeles Capital Management LLC bought a new stake in AES during the 4th quarter worth approximately $42,000. EverSource Wealth Advisors LLC grew its holdings in AES by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock worth $75,000 after buying an additional 2,006 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of AES in the 1st quarter worth $78,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Price Performance

NYSE AES opened at $14.73 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 2.93. The company has a market cap of $10.51 billion, a PE ratio of 5.62 and a beta of 0.97. The AES Corporation has a 52 week low of $12.33 and a 52 week high of $17.65. The firm’s 50-day simple moving average is $14.73 and its two-hundred day simple moving average is $14.74.

AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. Research analysts predict that The AES Corporation will post 2.27 earnings per share for the current year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, July 31st. AES’s payout ratio is presently 26.72%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised AES from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.71.

AES Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.