The AES Co. (NYSE:AES) Position Increased by Amalgamated Bank

Amalgamated Bank raised its position in The AES Co. (NYSE:AES) by 21.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,983 shares of the utilities provider’s stock after purchasing an additional 38,326 shares during the quarter. Amalgamated Bank’s holdings in AES were worth $3,848,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors increased its holdings in AES by 76.9% in the fourth quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock worth $1,373,460,000 after buying an additional 31,009,718 shares during the last quarter. Capital International Investors increased its stake in shares of AES by 11.4% during the 1st quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock worth $1,392,110,000 after purchasing an additional 7,969,594 shares during the last quarter. M&G Plc acquired a new stake in shares of AES in the 1st quarter valued at $123,272,000. Goldman Sachs Group Inc. boosted its holdings in AES by 70.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock worth $124,008,000 after purchasing an additional 2,670,001 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in AES by 2.2% during the first quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock worth $1,608,773,000 after buying an additional 1,929,523 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Performance

NYSE AES opened at $18.90 on Monday. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 26.25 and a beta of 1.07. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The AES Co. has a 1-year low of $11.43 and a 1-year high of $22.21. The company has a 50 day moving average of $17.40 and a 200-day moving average of $18.04.

AES (NYSE:AES) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts forecast that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. AES’s payout ratio is 95.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AES shares. Barclays reduced their target price on AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group started coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

AES Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.