雅虎香港財經 Is The AES Corporation (AES) Stock a Value Trap?
Massif Capital, an investment management company, released its “Massif Capital Real Assets Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned -1.14% net of fees and delivered a -5.8% return (net of fees) year to date. The fund generated a 6.55% return from the long book during the fourth quarter which was offset by a 7.49% decline from the short book. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Massif Capital highlighted stocks like The AES Corporation (NYSE:AES) in its Q4 2022 investor letter. Headquartered in Arlington, Virginia, The AES Corporation (NYSE:AES) is a power generation and utility company. On March 7, 2023, The AES Corporation (NYSE:AES) stock closed at $24.51 per share. One-month return of The AES Corporation (NYSE:AES) was -6.31%, and its shares gained 11.61% of their value over the last 52 weeks. The AES Corporation (NYSE:AES) has a market capitalization of $16.398 billion.
Massif Capital made the following comment about The AES Corporation (NYSE:AES) in its Q4 2022 investor letter:
"We currently have roughly 13% of the portfolio allocated to two utilities: The AES Corporation (NYSE:AES) and Polaris (PIF). We invested in AES in December 2020 at an average entry price of $21.3 and invested in PIF in July 2020 at an average entry price of 16.36 CAD. We are currently underwater on PIF and making money in AES. Our near-term outlook for both positions is mixed. AES had a solid year in 2022, up 13%; it has telegraphed growth in earnings and cash flow through 2025 and seems to be hitting its targets. We will have to see what the year holds for utilities and AES, but another year like last year, and the firm will be touching our full value expectations."
The AES Corporation (NYSE:AES) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held The AES Corporation (NYSE:AES) at the end of the fourth quarter which was 38 in the previous quarter.
We discussed The AES Corporation (NYSE:AES) in another article and shared the list of best utility dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
