State of Alaska Department of Revenue lessened its holdings in shares of AES Corp (NYSE:AES) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 127,122 shares of the utilities provider’s stock after selling 3,768 shares during the period. State of Alaska Department of Revenue’s holdings in AES were worth $1,779,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Gideon Capital Advisors Inc. bought a new position in shares of AES during the second quarter worth about $142,000. Mount Yale Investment Advisors LLC bought a new position in AES in the first quarter valued at approximately $146,000. Wedbush Securities Inc. bought a new position in AES in the second quarter valued at approximately $152,000. Chemical Bank bought a new position in AES in the second quarter valued at approximately $188,000. Finally, Gillespie Robinson & Grimm Inc. bought a new position in AES in the second quarter valued at approximately $213,000. Institutional investors own 98.78% of the company’s stock.
NYSE AES traded down $0.15 during midday trading on Friday, hitting $15.52. The company had a trading volume of 4,191,610 shares, compared to its average volume of 7,172,004. The stock has a market capitalization of $10.33 billion, a PE ratio of 14.37, a P/E/G ratio of 1.55 and a beta of 0.97. The company has a debt-to-equity ratio of 3.17, a current ratio of 1.24 and a quick ratio of 1.18. AES Corp has a twelve month low of $9.86 and a twelve month high of $16.28.
AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. AES had a positive return on equity of 19.50% and a negative net margin of 2.48%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. AES’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that AES Corp will post 1.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.35%. AES’s dividend payout ratio (DPR) is currently 48.15%.
Several research analysts have recently commented on AES shares. Morgan Stanley reiterated a “hold” rating and set a $14.50 target price (up from $14.00) on shares of AES in a research note on Thursday, October 11th. TheStreet upgraded AES from a “c+” rating to a “b” rating in a research note on Tuesday. Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, October 10th. Finally, ValuEngine raised AES from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.00.
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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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