Teacher Retirement System of Texas lifted its stake in AES Corp (NYSE:AES) by 65.5% during the 1st quarter, Holdings Channel reports. The fund owned 975,326 shares of the utilities provider’s stock after buying an additional 385,927 shares during the period. Teacher Retirement System of Texas’ holdings in AES were worth $17,634,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in AES. Wakefield Asset Management LLLP bought a new position in AES in the first quarter worth $3,996,000. Toronto Dominion Bank lifted its position in AES by 11.8% in the first quarter. Toronto Dominion Bank now owns 430,422 shares of the utilities provider’s stock worth $7,780,000 after purchasing an additional 45,394 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in AES by 1.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 363,510 shares of the utilities provider’s stock worth $6,572,000 after purchasing an additional 3,700 shares during the period. State Treasurer State of Michigan lifted its position in AES by 0.7% in the first quarter. State Treasurer State of Michigan now owns 190,905 shares of the utilities provider’s stock worth $3,452,000 after purchasing an additional 1,300 shares during the period. Finally, Cetera Advisors LLC lifted its position in AES by 12.7% in the first quarter. Cetera Advisors LLC now owns 29,961 shares of the utilities provider’s stock worth $541,000 after purchasing an additional 3,375 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.
Shares of NYSE AES traded down $0.06 during midday trading on Friday, reaching $16.29. 57,403 shares of the company traded hands, compared to its average volume of 6,825,217. The stock has a market cap of $10.85 billion, a PE ratio of 13.15, a PEG ratio of 1.54 and a beta of 1.04. AES Corp has a 12 month low of $11.80 and a 12 month high of $18.52. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.21 and a current ratio of 1.34.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.1365 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.35%. AES’s payout ratio is presently 44.35%.
In other AES news, insider Jeffrey W. Ubben purchased 2,582,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $16.10 per share, with a total value of $41,570,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Ubben purchased 2,482,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $16.11 per share, with a total value of $39,985,020.00. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by company insiders.
Separately, Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. AES has a consensus rating of “Hold” and an average price target of $14.50.
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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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