Interval Partners LP Invests $3.06 Million in The AES Co. (NYSE:AES)

Interval Partners LP acquired a new position in The AES Co. (NYSE:AES) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 173,906 shares of the utilities provider’s stock, valued at approximately $3,056,000.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in AES by 13.5% during the 2nd quarter. Bank of Montreal Can now owns 1,111,366 shares of the utilities provider’s stock valued at $21,038,000 after acquiring an additional 131,840 shares during the period. Lombard Odier Asset Management USA Corp acquired a new stake in AES in the 2nd quarter worth about $889,000. Public Sector Pension Investment Board grew its holdings in shares of AES by 58.6% during the second quarter. Public Sector Pension Investment Board now owns 120,496 shares of the utilities provider’s stock worth $2,117,000 after buying an additional 44,529 shares in the last quarter. Nippon Life Global Investors Americas Inc. acquired a new stake in shares of AES in the second quarter valued at about $417,000. Finally, Mount Yale Investment Advisors LLC lifted its stake in shares of AES by 1,693.5% in the second quarter. Mount Yale Investment Advisors LLC now owns 261,060 shares of the utilities provider’s stock worth $4,587,000 after buying an additional 246,504 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Up 2.2 %

AES opened at $19.32 on Tuesday. The stock has a market capitalization of $13.73 billion, a P/E ratio of 26.83 and a beta of 1.07. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97. The AES Co. has a one year low of $11.43 and a one year high of $22.21. The business’s 50-day simple moving average is $17.45 and its 200-day simple moving average is $18.06.

AES (NYSE:AES) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period last year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that The AES Co. will post 1.91 EPS for the current year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.57%. The ex-dividend date was Thursday, August 1st. AES’s payout ratio is currently 95.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

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.