The AES Co. (NYSE:AES) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in The AES Co. (NYSE:AES) by 10.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 724,766 shares of the utilities provider’s stock after buying an additional 68,655 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of AES worth $12,734,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AES. Louisiana State Employees Retirement System acquired a new stake in shares of AES during the fourth quarter worth $780,000. Federated Hermes Inc. purchased a new stake in AES during the 4th quarter valued at about $863,000. Signaturefd LLC raised its stake in shares of AES by 90.0% in the fourth quarter. Signaturefd LLC now owns 16,706 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 7,913 shares during the last quarter. CWM LLC lifted its holdings in shares of AES by 102.8% during the fourth quarter. CWM LLC now owns 23,762 shares of the utilities provider’s stock worth $457,000 after purchasing an additional 12,046 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in AES by 267.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock worth $69,000 after buying an additional 2,611 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Stock Performance

NYSE:AES opened at $18.08 on Friday. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. The stock has a market capitalization of $12.85 billion, a PE ratio of 25.11 and a beta of 1.08. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $22.21. The company has a fifty day moving average of $17.67 and a two-hundred day moving average of $17.80.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 35.44%. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, research analysts forecast that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, August 1st. AES’s payout ratio is 95.83%.

Analysts Set New Price Targets

AES has been the topic of a number of research reports. Mizuho increased their price objective on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Seaport Res Ptn downgraded AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Barclays decreased their price target on AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

About AES

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.