Alaska Permanent Fund Corp Buys New Position in The AES Co. (NYSE:AES)

Alaska Permanent Fund Corp bought a new position in shares of The AES Co. (NYSE:AES) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,256 shares of the utilities provider’s stock, valued at approximately $428,000.

Several other hedge funds have also made changes to their positions in the business. New York Life Investment Management LLC lifted its holdings in shares of AES by 0.7% during the 3rd quarter. New York Life Investment Management LLC now owns 96,702 shares of the utilities provider’s stock worth $1,470,000 after acquiring an additional 665 shares during the period. Global Retirement Partners LLC raised its stake in AES by 18.0% during the fourth quarter. Global Retirement Partners LLC now owns 4,378 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 668 shares during the period. Simplicity Solutions LLC boosted its holdings in shares of AES by 0.5% in the 3rd quarter. Simplicity Solutions LLC now owns 168,016 shares of the utilities provider’s stock valued at $2,554,000 after purchasing an additional 793 shares during the last quarter. River Street Advisors LLC increased its holdings in shares of AES by 7.1% during the 3rd quarter. River Street Advisors LLC now owns 12,548 shares of the utilities provider’s stock worth $191,000 after buying an additional 836 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of AES by 2.0% in the 3rd quarter. M&T Bank Corp now owns 52,644 shares of the utilities provider’s stock worth $800,000 after buying an additional 1,010 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Ratings Changes

AES has been the topic of a number of research reports. Morgan Stanley restated an “overweight” rating and issued a $25.00 price objective on shares of AES in a report on Monday, March 25th. Argus reissued a “buy” rating and issued a $25.00 price objective on shares of AES in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. Mizuho initiated coverage on shares of AES in a research note on Thursday, April 18th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, UBS Group dropped their price target on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.13.

AES Trading Up 0.5 %

Shares of NYSE AES opened at $17.21 on Friday. The stock has a market capitalization of $12.23 billion, a P/E ratio of 52.15 and a beta of 1.08. The stock’s 50 day moving average price is $16.52 and its two-hundred day moving average price is $16.77. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 4.42. The AES Co. has a 52-week low of $11.43 and a 52-week high of $23.81.

AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.36 billion. AES had a net margin of 2.12% and a return on equity of 38.76%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, analysts anticipate that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 dividend on an annualized basis and a yield of 4.01%. AES’s dividend payout ratio is currently 209.10%.

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.