Mirae Asset Global Investments Co. Ltd. Has $1.51 Million Stock Position in The AES Co. (NYSE:AES)

Mirae Asset Global Investments Co. Ltd. reduced its position in The AES Co. (NYSE:AES) by 45.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 78,209 shares of the utilities provider’s stock after selling 64,157 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AES were worth $1,506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in shares of AES by 38.6% in the 3rd quarter. FMR LLC now owns 36,821,650 shares of the utilities provider’s stock worth $559,689,000 after purchasing an additional 10,256,781 shares during the last quarter. CI Investments Inc. boosted its position in shares of AES by 18,505.6% in the 3rd quarter. CI Investments Inc. now owns 2,030,429 shares of the utilities provider’s stock worth $30,862,000 after purchasing an additional 2,019,516 shares during the last quarter. Invesco Ltd. boosted its position in shares of AES by 24.2% in the 3rd quarter. Invesco Ltd. now owns 7,611,339 shares of the utilities provider’s stock worth $115,692,000 after purchasing an additional 1,484,052 shares during the last quarter. Barclays PLC boosted its position in shares of AES by 114.1% in the 3rd quarter. Barclays PLC now owns 2,677,405 shares of the utilities provider’s stock worth $40,697,000 after purchasing an additional 1,426,662 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of AES by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 83,790,219 shares of the utilities provider’s stock worth $2,155,923,000 after purchasing an additional 1,285,423 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Performance

AES opened at $16.40 on Monday. The business’s 50-day moving average price is $16.47 and its two-hundred day moving average price is $16.70. The AES Co. has a 1 year low of $11.43 and a 1 year high of $24.33. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 49.70 and a beta of 1.08. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.68 and a quick ratio of 0.61.

AES (NYSE:AES) last released its earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.36 billion. AES had a return on equity of 38.76% and a net margin of 2.12%. AES’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Equities analysts expect that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s dividend payout ratio is currently 209.10%.

Analyst Upgrades and Downgrades

AES has been the topic of several recent research reports. UBS Group reduced their price target on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of AES in a report on Tuesday, April 9th. Argus reiterated a “buy” rating and set a $25.00 target price on shares of AES in a report on Tuesday, March 26th. Barclays reduced their target price on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Finally, Mizuho assumed coverage on AES in a report on Thursday. They set a “buy” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, AES currently has an average rating of “Moderate Buy” and a consensus price target of $22.13.

AES Profile

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.