New York State Teachers Retirement System Reduces Stake in The AES Co.

The New York State Teachers Retirement System has reduced its holdings in The AES Co. (NYSE:AES) by 0.3% during the third quarter of the year, as revealed in the latest Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 2,165 shares, the retirement system now owns a total of 722,601 shares of the utility provider. The reduced stake represents approximately 0.10% of AES, valued at around $14,495,000.

Other investment firms have also adjusted their positions in AES stock. For instance, DekaBank Deutsche Girozentrale significantly increased its holdings by 161.8% in the second quarter, now holding 107,016 shares worth $2,035,000 after acquiring an additional 66,145 shares. Empowered Funds LLC also modestly raised its stake by 1.9% in the first quarter, concluding with 124,745 shares valued at $2,237,000 after buying an extra 2,273 shares. Additionally, SG Americas Securities LLC saw a massive increase in its holdings by 735.2% during the first quarter, ending with 617,387 shares worth $11,070,000 after purchasing 543,464 new shares.
Moreover, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AES by 20.1%, bringing its total to 839,343 shares valued at $15,049,000 after acquiring 140,610 shares. Lazard Asset Management LLC also enhanced its stake by 178.5% in the first quarter, now owning 689,879 shares valued at approximately $12,369,000 after an acquisition of 442,184 shares. As a result, institutional investors now own 93.13% of the company’s stock.

AES Stock Overview

AES shares opened at $14.71 on the last trading day. The stock has a 50-day simple moving average of $17.85 and a 200-day simple moving average of $18.27. It currently holds a debt-to-equity ratio of 3.63, with a current ratio of 0.97 and a quick ratio of 0.91. Over the past year, the stock has fluctuated, reaching a 52-week low of $14.68 and a high of $22.21. As of now, the market capitalization of AES stands at $10.46 billion, with a P/E ratio of 10.22 and a beta of 1.07.

The AES Co. recently announced its earnings results on October 31st, where it reported earnings per share (EPS) of $0.71 for the quarter, surpassing analysts’ estimates of $0.60 by $0.11. The company has a net margin of 6.07% and a return on equity of 32.74%. In terms of revenue, AES generated $3.29 billion in the quarter, falling short of the projected $3.46 billion. This revenue reflects a 4.2% decrease compared to the same quarter from the previous year, when the company reported $0.60 EPS.

Dividend Information

AES recently announced that it will issue a quarterly dividend of $0.1725 per share, set to be paid on November 15th. Shareholders on record as of November 1st will receive this dividend, which translates to an annualized amount of $0.69 and a yield of 4.69%. The ex-dividend date was also on November 1st, and AES maintains a dividend payout ratio of 47.92%.

Analyst Recommendations

AES has recently come under the scrutiny of various analysts. Jefferies Financial Group issued a report initiating coverage on AES, assigning a "buy" rating with a target price of $20.00. Meanwhile, Evercore ISI upgraded its rating to "strong-buy." Barclays also increased its target price for AES from $22.00 to $23.00 and provided an "overweight" rating. Currently, one analyst rates the stock as a sell, two as holds, six as buys, and one as a strong buy. According to MarketBeat, AES has an average rating of "Moderate Buy" with a target price estimate of $22.57.

About AES Corporation

The AES Corporation operates as a diversified power generation and utility company, having a presence in the United States as well as internationally. The company is engaged in generating and selling power to a range of customers including utilities, industrial users, and other intermediaries. They additionally own and operate utilities, focusing on the generation, distribution, transmission, and sale of electricity to various end-user customers in residential, commercial, industrial, and governmental sectors.

AES, Investment, Stock