Penserra Capital Management LLC lifted its stake in AES Corp (NYSE:AES) by 564.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,832 shares of the utilities provider’s stock after buying an additional 4,954 shares during the quarter. Penserra Capital Management LLC’s holdings in AES were worth $94,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Citizens Financial Group Inc RI grew its position in AES by 1,375.4% in the third quarter. Citizens Financial Group Inc RI now owns 1,741 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 1,623 shares during the period. CWM LLC raised its stake in AES by 116.4% during the third quarter. CWM LLC now owns 1,913 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 1,029 shares in the last quarter. Endurance Wealth Management Inc. acquired a new position in AES during the third quarter worth $35,000. Wealthcare Advisory Partners LLC bought a new position in shares of AES during the second quarter valued at $36,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of AES during the third quarter valued at $45,000. Institutional investors and hedge funds own 92.87% of the company’s stock.
Several equities research analysts have recently commented on the stock. TheStreet upgraded shares of AES from a “c+” rating to a “b” rating in a research note on Wednesday, November 6th. Evercore ISI set a $19.00 target price on shares of AES and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley lifted their price target on shares of AES from $17.50 to $18.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, ValuEngine upgraded shares of AES from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.64.
AES (NYSE:AES) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. AES had a return on equity of 22.67% and a net margin of 4.90%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the firm posted $0.35 EPS. The business’s revenue was down 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that AES Corp will post 1.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.137 per share. This represents a $0.55 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Thursday, October 31st. AES’s payout ratio is presently 44.35%.
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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