Nissay Asset Management Corp Japan ADV increased its position in AES Corp (NYSE:AES) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,670 shares of the utilities provider’s stock after purchasing an additional 10,891 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in AES were worth $1,024,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Heritage Wealth Advisors bought a new position in shares of AES in the 2nd quarter worth $27,000. Capital Square LLC bought a new position in AES during the 1st quarter valued at $32,000. Parallel Advisors LLC lifted its stake in AES by 74.8% during the 1st quarter. Parallel Advisors LLC now owns 2,654 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,136 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in AES during the 1st quarter valued at $41,000. Finally, Valeo Financial Advisors LLC lifted its stake in AES by 333.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,243 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 3,263 shares in the last quarter. Institutional investors own 92.93% of the company’s stock.
Shares of AES opened at $15.23 on Friday. The business has a 50-day moving average of $14.34 and a 200 day moving average of $15.28. AES Corp has a fifty-two week low of $8.11 and a fifty-two week high of $21.23. The firm has a market cap of $10.13 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 1.55 and a beta of 0.99. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.97 and a current ratio of 1.06.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Monday, August 3rd will be issued a $0.1433 dividend. This represents a $0.57 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, July 31st. AES’s dividend payout ratio (DPR) is currently 41.91%.
AES has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on AES from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, April 13th. ValuEngine lowered AES from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. Morgan Stanley decreased their target price on AES from $18.50 to $18.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Finally, Seaport Global Securities assumed coverage on AES in a research report on Wednesday, May 20th. They set a “buy” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $17.67.
In other news, Director Jeffrey W. Ubben acquired 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $12.22 per share, with a total value of $6,110,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.54% of the company’s stock.
AES Company Profile
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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