HBK Investments L P Purchases Shares of 11,070,839 The AES Corporation $AES

HBK Investments L P acquired a new position in shares of The AES Corporation (NYSE:AES) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 11,070,839 shares of the utilities provider’s stock, valued at approximately $162,298,000. AES comprises about 1.6% of HBK Investments L P’s investment portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in AES. BlackRock Inc. bought a new stake in shares of AES during the 2nd quarter valued at $722,429,000. SG Americas Securities LLC increased its position in shares of AES by 99.8% in the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock worth $201,215,000 after purchasing an additional 7,133,230 shares during the period. Sound Shore Management Inc. CT raised its stake in AES by 17.0% in the fourth quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider’s stock valued at $98,922,000 after purchasing an additional 1,002,530 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in AES during the second quarter worth about $97,056,000. Finally, Bank of America Corp DE bought a new stake in AES during the second quarter worth about $80,584,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Price Performance

NYSE AES traded up $0.03 on Wednesday, hitting $14.82. 8,108,847 shares of the company’s stock were exchanged, compared to its average volume of 10,318,117. The stock has a 50-day moving average of $14.77 and a 200-day moving average of $14.59. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 5.66 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 company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93.

AES (NYSE:AES) last issued 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 return on equity of 20.69% and a net margin of 14.30%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.11 billion. Analysts expect that The AES Corporation will post 2.23 earnings per share for the current year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, July 31st. AES’s payout ratio is currently 26.72%.

Analyst Ratings Changes

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

AES Profile

The AES Corporation (NYSE: AES) is a global energy company that develops, owns and operates electricity generation and distribution businesses. Its portfolio includes renewable energy projects, natural gas and other power-generation facilities, battery energy storage systems, and utility operations. AES serves utilities, commercial and industrial customers, and other energy users through long-term power supply arrangements and related services.

The company has increasingly focused on renewable energy and energy infrastructure, including solar, wind and storage projects designed to support the transition to lower-carbon electricity systems.