Perigon Wealth Management LLC Has $296,000 Stake in AES Corp (NYSE:AES)

Perigon Wealth Management LLC raised its stake in shares of AES Corp (NYSE:AES) by 24.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 20,444 shares of the utilities provider’s stock after purchasing an additional 3,963 shares during the period. Perigon Wealth Management LLC’s holdings in AES were worth $296,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Square LLC acquired a new position in AES during the 1st quarter valued at about $32,000. Parallel Advisors LLC lifted its position in shares of AES by 74.8% during the 1st quarter. Parallel Advisors LLC now owns 2,654 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,136 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in shares of AES during the 1st quarter worth approximately $41,000. Valeo Financial Advisors LLC lifted its position in shares of AES by 333.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,243 shares of the utilities provider’s stock worth $61,000 after buying an additional 3,263 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of AES by 129.9% during the 1st quarter. Signaturefd LLC now owns 5,055 shares of the utilities provider’s stock worth $69,000 after buying an additional 2,856 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.

NYSE:AES opened at $15.23 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $10.13 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 1.55 and a beta of 0.99. The firm’s 50 day moving average is $14.34 and its 200 day moving average is $15.28. AES Corp has a 12 month low of $8.11 and a 12 month high of $21.23.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.73 billion. AES had a net margin of 2.97% and a return on equity of 23.42%. AES’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Research analysts predict that AES Corp will post 1.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.1433 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.57 dividend on an annualized basis and a yield of 3.76%. AES’s payout ratio is 41.91%.

In other AES news, Director Jeffrey W. Ubben bought 500,000 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $11.67 per share, with a total value of $5,835,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.54% of the company’s stock.

Several equities analysts have commented on AES shares. Morgan Stanley dropped their target price on shares of AES from $18.50 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Seaport Global Securities started coverage on shares of AES in a research report on Wednesday, May 20th. They set a “buy” rating and a $17.00 target price on the stock. ValuEngine cut shares of AES from a “hold” rating to a “sell” rating in a research report on Tuesday, April 21st. TheStreet raised shares of AES from a “c” rating to a “b-” rating in a research report on Thursday, May 7th. Finally, Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, April 13th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $17.67.

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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Institutional Ownership by Quarter for AES (NYSE:AES)

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