Northern Trust Corp increased its stake in shares of AES Corp (NYSE:AES) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,077,310 shares of the utilities provider’s stock after purchasing an additional 190,343 shares during the quarter. Northern Trust Corp owned 1.22% of AES worth $135,375,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in AES by 59.8% in the 2nd quarter. Renaissance Technologies LLC now owns 9,930,500 shares of the utilities provider’s stock valued at $166,435,000 after acquiring an additional 3,716,600 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd grew its position in AES by 361.8% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,673,591 shares of the utilities provider’s stock valued at $66,418,000 after acquiring an additional 2,878,179 shares during the last quarter. Panagora Asset Management Inc. grew its position in AES by 116.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 4,171,436 shares of the utilities provider’s stock valued at $69,913,000 after acquiring an additional 2,248,176 shares during the last quarter. First Trust Advisors LP grew its position in AES by 645.9% in the 2nd quarter. First Trust Advisors LP now owns 2,360,961 shares of the utilities provider’s stock valued at $39,570,000 after acquiring an additional 2,044,426 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in AES by 40.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,478,822 shares of the utilities provider’s stock valued at $99,056,000 after acquiring an additional 1,582,707 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AES stock traded up $0.22 during mid-day trading on Friday, hitting $15.89. The stock had a trading volume of 149,310 shares, compared to its average volume of 4,445,426. AES Corp has a 12-month low of $13.18 and a 12-month high of $18.52. The firm has a market capitalization of $10.40 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The firm’s 50-day moving average is $15.67 and its two-hundred day moving average is $16.81. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.36 and a quick ratio of 1.24.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.137 dividend. This represents a $0.55 annualized dividend and a dividend yield of 3.45%. This is a boost from AES’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, July 31st. AES’s dividend payout ratio is currently 44.35%.
AES has been the topic of several research analyst reports. ValuEngine downgraded AES from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet downgraded AES from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Argus raised AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and set a $16.57 target price for the company in a report on Thursday, June 20th. Finally, Evercore ISI set a $19.00 target price on AES and gave the stock a “buy” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. AES has a consensus rating of “Buy” and a consensus price target of $16.77.
In related news, Director Jeffrey W. Ubben acquired 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.25 per share, for a total transaction of $3,050,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Julian Nebreda sold 18,864 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $15.24, for a total value of $287,487.36. Following the sale, the senior vice president now owns 35,314 shares of the company’s stock, valued at $538,185.36. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by corporate insiders.
AES Company 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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