Hsbc Holdings PLC Acquires New Shares in The AES Corporation $AES

Hsbc Holdings PLC bought a new stake in shares of The AES Corporation (NYSE:AES) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,882,234 shares of the utilities provider’s stock, valued at approximately $27,586,000.

Several other hedge funds have also recently modified their holdings of the business. Root Financial Partners LLC lifted its holdings in shares of AES by 259.9% during the first quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,038 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in AES in the 4th quarter worth about $42,000. Burnham & Co LLC purchased a new position in AES in the 2nd quarter worth about $44,000. EverSource Wealth Advisors LLC lifted its stake in AES by 61.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,296 shares of the utilities provider’s stock valued at $75,000 after acquiring an additional 2,006 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in shares of AES during the 1st quarter valued at about $78,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

Shares of NYSE:AES opened at $14.72 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $10.51 billion, a PE ratio of 5.62 and a beta of 0.97. The firm’s 50 day moving average price is $14.73 and its 200-day moving average price is $14.73. The AES Corporation has a twelve month low of $12.33 and a twelve month high of $17.65.

AES (NYSE:AES) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.15. AES had a net margin of 14.30% and a return on equity of 20.69%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.11 billion. Equities research analysts expect that The AES Corporation will post 2.27 EPS for the current year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.176 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, July 31st. AES’s dividend payout ratio is 26.72%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.71.

About AES

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.