HB Wealth Management LLC Acquires 4,038 Shares of The AES Co. (NYSE:AES)

HB Wealth Management LLC increased its holdings in The AES Co. (NYSE:AES) by 22.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,291 shares of the utilities provider’s stock after buying an additional 4,038 shares during the period. HB Wealth Management LLC’s holdings in AES were worth $392,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of AES by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after purchasing an additional 1,929,523 shares during the period. Capital International Investors grew its holdings in AES by 11.4% during the 1st quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock valued at $1,392,110,000 after buying an additional 7,969,594 shares in the last quarter. Capital World Investors boosted its position in shares of AES by 76.9% in the fourth quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock valued at $1,373,460,000 after acquiring an additional 31,009,718 shares during the period. M&G Plc purchased a new position in AES during the first quarter valued at approximately $123,272,000. Finally, Goldman Sachs Group Inc. increased its holdings in AES by 70.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock worth $124,008,000 after acquiring an additional 2,670,001 shares during the period. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Stock Up 0.4 %

Shares of NYSE AES opened at $17.27 on Friday. The stock has a market capitalization of $12.27 billion, a P/E ratio of 23.98 and a beta of 1.08. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The AES Co. has a one year low of $11.43 and a one year high of $22.21. The firm’s 50 day simple moving average is $17.56 and its two-hundred day simple moving average is $17.83.

AES (NYSE:AES) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 35.44%. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter last year, the company earned $0.21 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts expect that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.1725 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.00%. AES’s dividend payout ratio (DPR) is currently 95.83%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays decreased their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Seaport Res Ptn downgraded AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Mizuho upped their price objective on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

AES Company 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.