Thoroughbred Financial Services LLC Invests $386,000 in The AES Co. (NYSE:AES)

Thoroughbred Financial Services LLC acquired a new position in shares of The AES Co. (NYSE:AES) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,977 shares of the utilities provider’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its holdings in AES by 1.9% in the 1st quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock valued at $2,237,000 after purchasing an additional 2,273 shares in the last quarter. SG Americas Securities LLC increased its holdings in AES by 735.2% in the 1st quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock valued at $11,070,000 after purchasing an additional 543,464 shares in the last quarter. New Century Financial Group LLC acquired a new stake in AES in the 1st quarter valued at $1,235,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AES by 20.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock valued at $15,049,000 after purchasing an additional 140,610 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in AES by 178.5% in the 1st quarter. Lazard Asset Management LLC now owns 689,879 shares of the utilities provider’s stock valued at $12,369,000 after purchasing an additional 442,184 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AES has been the subject of several recent analyst reports. Jefferies Financial Group began coverage on AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price for the company. Seaport Res Ptn cut shares of AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Barclays reduced their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

AES Stock Performance

Shares of NYSE AES opened at $19.01 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63. The firm’s 50-day moving average price is $17.31 and its two-hundred day moving average price is $17.93. The AES Co. has a 52-week low of $11.43 and a 52-week high of $22.21. The stock has a market capitalization of $13.51 billion, a P/E ratio of 26.40 and a beta of 1.07.

AES (NYSE:AES) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter last year, the company posted $0.21 earnings per share. AES’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that The AES Co. will post 1.91 earnings per share for the current year.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.1725 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.69 annualized dividend and a dividend yield of 3.63%. AES’s payout ratio is currently 95.83%.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.