Brasada Capital Management LP lowered its position in AES Corp (NYSE:AES) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 309,978 shares of the utilities provider’s stock after selling 1,095 shares during the quarter. AES accounts for approximately 1.7% of Brasada Capital Management LP’s investment portfolio, making the stock its 16th largest position. Brasada Capital Management LP’s holdings in AES were worth $5,604,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of AES by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 3,489,610 shares of the utilities provider’s stock worth $48,854,000 after purchasing an additional 53,115 shares during the last quarter. Vanguard Group Inc increased its stake in shares of AES by 6.1% during the 3rd quarter. Vanguard Group Inc now owns 81,854,306 shares of the utilities provider’s stock worth $1,145,960,000 after purchasing an additional 4,727,278 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of AES by 9.1% during the 3rd quarter. Federated Investors Inc. PA now owns 350,213 shares of the utilities provider’s stock worth $4,904,000 after purchasing an additional 29,280 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of AES during the 4th quarter worth $233,000. Finally, Contravisory Investment Management Inc. increased its stake in shares of AES by 5.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 30,072 shares of the utilities provider’s stock worth $435,000 after purchasing an additional 1,443 shares during the last quarter. 93.53% of the stock is owned by institutional investors.
NYSE AES opened at $16.11 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 3.27. The firm has a market cap of $10.70 billion, a P/E ratio of 12.99, a PEG ratio of 1.54 and a beta of 1.04. AES Corp has a 1 year low of $11.80 and a 1 year high of $18.52.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.1365 per share. This represents a $0.55 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, April 30th. AES’s dividend payout ratio is currently 44.35%.
Separately, Zacks Investment Research lowered shares of AES from a “buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.75.
In other news, Director Jeffrey W. Ubben acquired 2,482,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $16.11 per share, with a total value of $39,985,020.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey W. Ubben acquired 2,582,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $16.10 per share, with a total value of $41,570,200.00. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
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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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