Rakuten Investment Management Inc. Purchases Shares of 75,611 The AES Corporation $AES

Rakuten Investment Management Inc. acquired a new position in shares of The AES Corporation (NYSE:AES) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 75,611 shares of the utilities provider’s stock, valued at approximately $1,106,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in AES during the 2nd quarter worth approximately $722,429,000. SG Americas Securities LLC lifted its position in shares of AES by 99.8% during the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock worth $201,215,000 after purchasing an additional 7,133,230 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in shares of AES by 17.0% during the fourth quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider’s stock worth $98,922,000 after purchasing an additional 1,002,530 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in AES in the second quarter valued at $97,056,000. Finally, Bank of America Corp DE acquired a new stake in AES in the second quarter valued at $80,584,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analysts Set New Price Targets

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

AES Price Performance

AES stock opened at $14.73 on Monday. The stock has a market cap of $10.51 billion, a P/E ratio of 5.62 and a beta of 0.97. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.93. The AES Corporation has a twelve month low of $12.33 and a twelve month high of $17.65. The company’s 50 day moving average is $14.73 and its two-hundred day moving average is $14.72.

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

AES Dividend Announcement

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

AES Company Profile

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.