M&T Bank Corp Has $773,000 Stock Position in AES Corp (NYSE:AES)
M&T Bank Corp increased its position in shares of AES Corp (NYSE:AES) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 46,082 shares of the utilities provider’s stock after buying an additional 2,109 shares during the quarter. M&T Bank Corp’s holdings in AES were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC bought a new position in AES in the 2nd quarter worth $36,000. Focused Wealth Management Inc bought a new stake in AES during the second quarter valued at about $75,000. Marshall Wace North America L.P. bought a new stake in AES during the first quarter valued at about $137,000. Hanseatic Management Services Inc. acquired a new stake in shares of AES in the first quarter valued at about $154,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of AES by 58.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,233 shares of the utilities provider’s stock valued at $155,000 after purchasing an additional 3,400 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on AES shares. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and set a $16.57 price objective on the stock in a research note on Thursday, June 20th. Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, June 4th. Argus raised AES from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Evercore ISI set a $19.00 price target on AES and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, TheStreet lowered AES from a “b” rating to a “c+” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.77.
AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). AES had a return on equity of 18.94% and a net margin of 3.78%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, analysts predict that AES Corp will post 1.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.137 dividend. This represents a $0.55 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from AES’s previous quarterly dividend of $0.14. AES’s dividend payout ratio (DPR) is presently 44.35%.
In other news, Director Jeffrey W. Ubben acquired 200,000 shares of AES stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.25 per share, for a total transaction of $3,050,000.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Julian Nebreda sold 18,864 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.24, for a total value of $287,487.36. Following the completion of the sale, the senior vice president now owns 35,314 shares of the company’s stock, valued at approximately $538,185.36. The disclosure for this sale can be found here. 1.06% of the stock is owned by company insiders.
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.
Further Reading: Rule of 72
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