Legal & General Group Plc Has $51.86 Million Stake in AES Corp (NYSE:AES)

Legal & General Group Plc lifted its holdings in shares of AES Corp (NYSE:AES) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,586,236 shares of the utilities provider’s stock after purchasing an additional 96,626 shares during the period. Legal & General Group Plc owned 0.54% of AES worth $51,857,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Huntington National Bank boosted its stake in shares of AES by 14.0% during the 4th quarter. Huntington National Bank now owns 5,133 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 632 shares during the period. North Star Investment Management Corp. lifted its holdings in AES by 22.8% during the 4th quarter. North Star Investment Management Corp. now owns 4,476 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 831 shares during the last quarter. M&T Bank Corp lifted its holdings in AES by 2.2% during the 4th quarter. M&T Bank Corp now owns 45,658 shares of the utilities provider’s stock worth $660,000 after purchasing an additional 995 shares during the last quarter. Investors Research Corp lifted its holdings in AES by 1.7% during the 4th quarter. Investors Research Corp now owns 60,964 shares of the utilities provider’s stock worth $882,000 after purchasing an additional 1,000 shares during the last quarter. Finally, AI Financial Services LLC raised its holdings in AES by 0.7% in the 4th quarter. AI Financial Services LLC now owns 166,115 shares of the utilities provider’s stock valued at $2,402,000 after acquiring an additional 1,185 shares in the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

AES stock traded up $0.02 during midday trading on Friday, reaching $17.72. 4,256,567 shares of the stock were exchanged, compared to its average volume of 5,156,407. The firm has a market capitalization of $11.74 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.70 and a beta of 1.09. AES Corp has a 52 week low of $11.58 and a 52 week high of $18.52. The company has a quick ratio of 1.01, a current ratio of 1.14 and a debt-to-equity ratio of 3.15.

AES (NYSE:AES) last released its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. AES had a return on equity of 19.43% and a net margin of 11.20%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts expect that AES Corp will post 1.34 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.1365 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.55 annualized dividend and a dividend yield of 3.08%. AES’s payout ratio is 44.35%.

Separately, Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.00.

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About AES

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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Institutional Ownership by Quarter for AES (NYSE:AES)

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