Texas Permanent School Fund Sells 4,343 Shares of AES Corp (NYSE:AES)
Texas Permanent School Fund decreased its stake in AES Corp (NYSE:AES) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,657 shares of the utilities provider’s stock after selling 4,343 shares during the period. Texas Permanent School Fund’s holdings in AES were worth $2,021,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its holdings in shares of AES by 2.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 202,200 shares of the utilities provider’s stock worth $3,304,000 after buying an additional 4,613 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of AES by 48.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,709,186 shares of the utilities provider’s stock worth $27,928,000 after buying an additional 559,743 shares during the last quarter. Monarch Capital Management Inc. increased its holdings in shares of AES by 11.3% in the 3rd quarter. Monarch Capital Management Inc. now owns 22,700 shares of the utilities provider’s stock worth $371,000 after buying an additional 2,300 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of AES by 9.3% in the 3rd quarter. CIBC Asset Management Inc now owns 81,708 shares of the utilities provider’s stock worth $1,335,000 after buying an additional 6,947 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of AES in the 3rd quarter worth $45,000. 93.32% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on AES. ValuEngine raised shares of AES from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. TheStreet raised shares of AES from a “c+” rating to a “b” rating in a research note on Wednesday. Evercore ISI set a $19.00 price objective on shares of AES and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley upped their price objective on shares of AES from $17.50 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $17.64.
AES (NYSE:AES) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. AES had a net margin of 3.78% and a return on equity of 18.94%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that AES Corp will post 1.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.137 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.11%. AES’s dividend payout ratio (DPR) is 44.35%.
In other AES news, SVP Julian Nebreda sold 18,864 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.24, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Ubben purchased 200,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.25 per share, with a total value of $3,050,000.00. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
AES Company Profile
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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