Prudential Financial Inc. Grows Stake in AES Corp (AES)

Prudential Financial Inc. lifted its position in AES Corp (NYSE:AES) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,399,720 shares of the utilities provider’s stock after buying an additional 1,103,750 shares during the quarter. Prudential Financial Inc. owned about 1.73% of AES worth $125,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ffcm LLC increased its holdings in AES by 171.8% in the 2nd quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock valued at $116,000 after buying an additional 6,634 shares during the period. Cypress Capital Group bought a new stake in AES in the 3rd quarter valued at $138,000. Piedmont Investment Advisors LLC bought a new stake in AES in the 3rd quarter valued at $668,000. ETRADE Capital Management LLC increased its holdings in AES by 25.3% in the 3rd quarter. ETRADE Capital Management LLC now owns 62,722 shares of the utilities provider’s stock valued at $691,000 after buying an additional 12,669 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in AES by 171.0% in the 3rd quarter. Sterling Capital Management LLC now owns 82,609 shares of the utilities provider’s stock valued at $910,000 after buying an additional 52,127 shares during the period. 93.08% of the stock is currently owned by hedge funds and other institutional investors.

In other AES news, insider Andres Gluski bought 24,632 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $10.17 per share, for a total transaction of $250,507.44. Following the completion of the transaction, the insider now directly owns 868,396 shares in the company, valued at approximately $8,831,587.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Santos Bernerd Da bought 4,700 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $10.60 per share, for a total transaction of $49,820.00. Following the transaction, the chief operating officer now owns 96,186 shares of the company’s stock, valued at $1,019,571.60. The disclosure for this purchase can be found here. Insiders have bought 38,832 shares of company stock valued at $401,407 in the last three months. Insiders own 1.09% of the company’s stock.

AES Corp (NYSE AES) opened at $10.72 on Thursday. The firm has a market cap of $7,080.00, a P/E ratio of -357.33, a PEG ratio of 1.13 and a beta of 1.21. AES Corp has a 52 week low of $10.00 and a 52 week high of $12.06. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.89 and a current ratio of 0.99.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). AES had a negative net margin of 5.43% and a positive return on equity of 15.14%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities research analysts predict that AES Corp will post 1.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.85%. This is an increase from AES’s previous quarterly dividend of $0.12. AES’s dividend payout ratio (DPR) is currently -1,600.00%.

Several equities research analysts have recently weighed in on AES shares. Morgan Stanley reduced their price target on shares of AES from $14.00 to $12.50 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. ValuEngine upgraded shares of AES from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Bank of America upgraded shares of AES from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.70.

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AES Profile

The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.

Institutional Ownership by Quarter for AES (NYSE:AES)

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