Southpoint Capital Advisors LP Increases Stock Position in The AES Co. (NYSE:AES)

Southpoint Capital Advisors LP increased its stake in shares of The AES Co. (NYSE:AES) by 3,392.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,000,000 shares of the utilities provider’s stock after buying an additional 5,828,221 shares during the period. The AES comprises about 2.7% of Southpoint Capital Advisors LP’s holdings, making the stock its 16th biggest position. Southpoint Capital Advisors LP’s holdings in The AES were worth $160,860,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AES. Capital International Investors increased its holdings in The AES by 35.6% during the first quarter. Capital International Investors now owns 44,271,361 shares of the utilities provider’s stock worth $1,186,934,000 after buying an additional 11,630,244 shares during the last quarter. Parnassus Investments CA bought a new position in The AES during the first quarter worth about $86,850,000. Third Point LLC bought a new position in The AES during the first quarter worth about $49,598,000. Zimmer Partners LP bought a new position in The AES during the first quarter worth about $44,196,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of The AES by 31.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,257,005 shares of the utilities provider’s stock valued at $167,751,000 after acquiring an additional 1,507,011 shares during the period. Institutional investors and hedge funds own 93.04% of the company’s stock.

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of The AES from $30.50 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, May 18th. Susquehanna assumed coverage on shares of The AES in a research report on Monday, June 21st. They issued a “positive” rating and a $32.00 price objective for the company. TheStreet lowered shares of The AES from a “b-” rating to a “c” rating in a research report on Thursday, May 6th. Finally, Susquehanna Bancshares initiated coverage on shares of The AES in a research note on Monday, June 21st. They issued a “positive” rating and a $32.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $30.00.

AES traded down $0.36 on Thursday, reaching $24.00. The company had a trading volume of 48,293 shares, compared to its average volume of 4,564,160. The business has a 50 day moving average of $25.45. The stock has a market capitalization of $15.99 billion, a P/E ratio of -65.84, a price-to-earnings-growth ratio of 1.91 and a beta of 0.82. The company has a debt-to-equity ratio of 3.97, a quick ratio of 1.15 and a current ratio of 1.24. The AES Co. has a 52-week low of $14.83 and a 52-week high of $29.07.

The AES (NYSE:AES) last posted its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The AES had a positive return on equity of 26.18% and a negative net margin of 2.47%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the business posted $0.29 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year. On average, equities analysts expect that The AES Co. will post 1.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Monday, August 2nd will be paid a $0.1505 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, July 30th. The AES’s payout ratio is 41.67%.

About The 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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Institutional Ownership by Quarter for The AES (NYSE:AES)

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