Redwood Investment Management LLC Takes $826,000 Position in The AES Corporation $AES

Redwood Investment Management LLC acquired a new position in The AES Corporation (NYSE:AES) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 56,325 shares of the utilities provider’s stock, valued at approximately $826,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AES. Root Financial Partners LLC grew its position in AES by 259.9% in the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 2,038 shares during the last quarter. Burnham & Co LLC bought a new stake in shares of AES during the second quarter valued at approximately $44,000. Los Angeles Capital Management LLC acquired a new position in shares of AES during the fourth quarter worth approximately $42,000. EverSource Wealth Advisors LLC grew its holdings in AES by 61.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock worth $75,000 after buying an additional 2,006 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in AES in the 1st quarter worth approximately $78,000. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Trading Down 0.0%

Shares of AES stock opened at $14.72 on Friday. The business has a fifty day simple moving average of $14.73 and a 200-day simple moving average of $14.73. The AES Corporation has a fifty-two week low of $12.33 and a fifty-two week high of $17.65. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 5.62 and a beta of 0.97. The company has a quick ratio of 0.67, a current ratio of 0.75 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 EPS for the quarter, topping the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.11 billion. On average, equities analysts forecast that The AES Corporation will post 2.27 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, July 31st. AES’s payout ratio is presently 26.72%.

Analysts Set New Price Targets

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

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.