Sagefield Capital LP Buys 234,473 Shares of The AES Co. (NYSE:AES)

Sagefield Capital LP increased its holdings in shares of The AES Co. (NYSE:AES) by 82.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,944 shares of the utilities provider’s stock after purchasing an additional 234,473 shares during the quarter. AES makes up 1.0% of Sagefield Capital LP’s portfolio, making the stock its 27th biggest holding. Sagefield Capital LP owned approximately 0.07% of AES worth $9,118,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC grew its position in shares of AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 720 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of AES during the second quarter worth about $28,000. UMB Bank n.a. grew its position in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of AES during the first quarter worth about $33,000. Finally, nVerses Capital LLC purchased a new stake in shares of AES during the second quarter worth about $33,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

Shares of AES stock opened at $19.32 on Tuesday. The stock has a market cap of $13.73 billion, a price-to-earnings 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 stock has a 50 day moving average price of $17.45 and a 200-day moving average price of $18.06. The AES Co. has a one year low of $11.43 and a one year high of $22.21.

AES (NYSE:AES) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Equities analysts expect that The AES Co. will post 1.91 EPS for the current year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis 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

A number of analysts have issued reports on the company. Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Barclays reduced their price objective on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Jefferies Financial Group assumed coverage on AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and a consensus target price 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.