Polaris Greystone Financial Group LLC purchased a new position in shares of AES Corp (NYSE:AES) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 1,443,342 shares of the utilities provider’s stock, valued at approximately $24,205,000. AES accounts for about 1.8% of Polaris Greystone Financial Group LLC’s holdings, making the stock its 24th biggest position.
Several other hedge funds also recently modified their holdings of the company. First Quadrant L P CA grew its stake in AES by 42.9% in the 2nd quarter. First Quadrant L P CA now owns 151,457 shares of the utilities provider’s stock valued at $2,538,000 after buying an additional 45,500 shares in the last quarter. Arden Trust Co bought a new position in AES in the 2nd quarter valued at $459,000. Commerzbank Aktiengesellschaft FI boosted its holdings in AES by 5.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 71,129 shares of the utilities provider’s stock valued at $1,192,000 after purchasing an additional 3,575 shares during the period. Regentatlantic Capital LLC boosted its holdings in AES by 51.2% in the 2nd quarter. Regentatlantic Capital LLC now owns 48,733 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 16,502 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in AES by 3.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 122,573 shares of the utilities provider’s stock valued at $2,053,000 after purchasing an additional 3,911 shares during the period. Institutional investors own 93.42% of the company’s stock.
In related news, insider Jeffrey W. Ubben acquired 2,582,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was bought 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 SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Ubben acquired 2,482,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were bought 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. Insiders own 1.06% of the company’s stock.
AES (NYSE:AES) last announced its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). AES had a net margin of 6.32% and a return on equity of 19.05%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts predict that AES Corp will post 1.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.137 per share. This is an increase from AES’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, July 31st. AES’s payout ratio is currently 44.35%.
Several brokerages have commented on AES. Argus raised shares of AES from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, June 4th. ValuEngine downgraded shares of AES from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and set a $16.57 price target for the company in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.02.
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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