Energy Income Partners LLC Makes New $27.08 Million Investment in The AES Corporation $AES

Energy Income Partners LLC bought a new position in The AES Corporation (NYSE:AES) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,847,213 shares of the utilities provider’s stock, valued at approximately $27,080,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AES. Root Financial Partners LLC increased its stake in shares of 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 buying an additional 2,038 shares during the period. Los Angeles Capital Management LLC bought a new stake in AES during the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC grew its stake in AES by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 2,006 shares during the period. Sound Income Strategies LLC bought a new position in shares of AES in the 1st quarter worth about $78,000. Finally, Clearstead Trust LLC purchased a new position in shares of AES during the second quarter valued at approximately $91,000. Institutional investors own 93.13% of the company’s stock.

AES Stock Performance

NYSE AES opened at $14.74 on Wednesday. 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 AES Corporation has a twelve month low of $12.33 and a twelve month high of $17.65. The business has a 50-day moving average price of $14.71 and a 200-day moving average price of $14.76. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 5.63 and a beta of 0.97.

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

AES Announces Dividend

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

Analyst Ratings Changes

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

About AES

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.