Principal Financial Group Inc. Buys 20,980 Shares of The AES Co. (NYSE:AES)

Principal Financial Group Inc. grew its stake in The AES Co. (NYSE:AESGet Rating) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 845,035 shares of the utilities provider’s stock after purchasing an additional 20,980 shares during the quarter. Principal Financial Group Inc.’s holdings in AES were worth $17,754,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AES. Elequin Capital LP bought a new position in shares of AES in the first quarter valued at approximately $25,000. CX Institutional bought a new position in shares of AES in the second quarter valued at approximately $26,000. Clear Street Markets LLC lifted its holdings in shares of AES by 411.7% in the second quarter. Clear Street Markets LLC now owns 1,397 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 1,124 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of AES by 157.9% in the first quarter. Capital Advisors Ltd. LLC now owns 1,777 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,088 shares in the last quarter. Finally, Krane Funds Advisors LLC purchased a new stake in shares of AES during the first quarter valued at approximately $60,000. Institutional investors own 95.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TheStreet raised AES from a “c” rating to a “b” rating in a research report on Friday, November 4th. Susquehanna Bancshares increased their price target on AES from $30.00 to $33.00 in a research report on Monday, November 7th. The Goldman Sachs Group increased their price target on AES from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 5th. Credit Suisse Group increased their price target on AES from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, October 19th. Finally, Citigroup increased their price target on AES from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AES Stock Performance

NYSE:AES opened at $28.08 on Wednesday. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.29 and a quick ratio of 1.12. The business has a fifty day simple moving average of $25.51 and a two-hundred day simple moving average of $23.47. The AES Co. has a 1 year low of $18.62 and a 1 year high of $28.57. The company has a market capitalization of $18.76 billion, a P/E ratio of -59.74, a P/E/G ratio of 2.07 and a beta of 0.97.

AES (NYSE:AESGet Rating) last released its earnings results on Friday, November 4th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.93 billion. AES had a positive return on equity of 36.60% and a negative net margin of 1.88%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. On average, analysts expect that The AES Co. will post 1.62 earnings per share for the current year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were given a $0.158 dividend. This represents a $0.63 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, October 31st. AES’s dividend payout ratio (DPR) is presently -134.04%.

About AES

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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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Institutional Ownership by Quarter for AES (NYSE:AES)

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