Insider Buying: AES Corp (AES) Insider Acquires 2,582,000 Shares of Stock

AES Corp (NYSE:AES) insider Jeffrey W. Ubben purchased 2,582,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $16.10 per share, for a total transaction of $41,570,200.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of NYSE:AES opened at $16.22 on Thursday. The company has a market capitalization of $10.69 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a quick ratio of 1.21, a current ratio of 1.34 and a debt-to-equity ratio of 3.27. AES Corp has a one year low of $11.80 and a one year high of $18.52.

AES (NYSE:AES) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.47 billion. AES had a net margin of 6.32% and a return on equity of 19.05%. AES’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. On average, research analysts forecast that AES Corp will post 1.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.1365 per share. This represents a $0.55 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Tuesday, April 30th. AES’s payout ratio is currently 44.35%.

Separately, Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. AES presently has a consensus rating of “Hold” and an average price target of $14.50.

Several institutional investors and hedge funds have recently bought and sold shares of AES. Vanguard Group Inc grew its holdings in AES by 6.1% in the third 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 period. BlackRock Inc. lifted its position in shares of AES by 0.4% during the fourth quarter. BlackRock Inc. now owns 63,316,409 shares of the utilities provider’s stock valued at $915,555,000 after purchasing an additional 264,771 shares in the last quarter. Bank of Montreal Can raised its position in AES by 2.5% in the fourth quarter. Bank of Montreal Can now owns 16,403,408 shares of the utilities provider’s stock worth $237,194,000 after acquiring an additional 402,901 shares during the period. AQR Capital Management LLC raised its position in AES by 74.8% in the first quarter. AQR Capital Management LLC now owns 10,575,916 shares of the utilities provider’s stock worth $191,213,000 after acquiring an additional 4,523,946 shares during the period. Finally, AJO LP raised its position in AES by 13.8% in the first quarter. AJO LP now owns 10,291,239 shares of the utilities provider’s stock worth $186,066,000 after acquiring an additional 1,245,605 shares during the period. Institutional investors own 94.30% of the company’s stock.

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About AES

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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