BI Asset Management Fondsmaeglerselskab A S Takes Position in The AES Corporation $AES

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of The AES Corporation (NYSE:AES) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 348,370 shares of the utilities provider’s stock, valued at approximately $4,585,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bogart Wealth LLC lifted its holdings in shares of AES by 406.5% during the third quarter. Bogart Wealth LLC now owns 1,869 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,500 shares during the last quarter. Cromwell Holdings LLC increased its position in AES by 232.5% during the 3rd quarter. Cromwell Holdings LLC now owns 2,484 shares of the utilities provider’s stock valued at $33,000 after buying an additional 1,737 shares in the last quarter. TD Private Client Wealth LLC raised its stake in AES by 50.8% during the third quarter. TD Private Client Wealth LLC now owns 3,401 shares of the utilities provider’s stock valued at $45,000 after buying an additional 1,146 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of AES by 448.3% in the second quarter. First Horizon Advisors Inc. now owns 9,836 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 8,042 shares during the last quarter. Finally, Jeppson Wealth Management LLC bought a new position in shares of AES during the third quarter valued at $150,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

Shares of NYSE:AES opened at $16.03 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 3.15. The stock has a market capitalization of $11.42 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.00. The firm’s 50 day moving average price is $14.31 and its 200-day moving average price is $13.87. The AES Corporation has a twelve month low of $9.46 and a twelve month high of $16.19.

AES (NYSE:AES) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.37 billion. AES had a net margin of 9.47% and a return on equity of 18.83%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts expect that The AES Corporation will post 1.93 EPS for the current year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.176 per share. The ex-dividend date is Friday, January 30th. This represents a $0.70 annualized dividend and a yield of 4.4%. AES’s payout ratio is 43.75%.

Analysts Set New Price Targets

AES has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of AES from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of AES in a research report on Monday, December 29th. Susquehanna upped their price objective on AES from $16.00 to $17.00 and gave the company a “positive” rating in a research report on Monday, October 13th. Jefferies Financial Group lifted their target price on AES from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Argus raised AES from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.08.

AES Company Profile

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.