Gabelli Funds LLC Reduces Holdings in The AES Co. (NYSE:AES)

Gabelli Funds LLC reduced its position in The AES Co. (NYSE:AES) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,657,600 shares of the utilities provider’s stock after selling 32,100 shares during the period. Gabelli Funds LLC owned 0.51% of AES worth $64,264,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Rise Advisors LLC lifted its stake in shares of AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of AES during the second quarter worth $28,000. UMB Bank n.a. boosted its holdings in shares of AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 898 shares during the period. Riverview Trust Co bought a new stake in shares of AES during the 1st quarter valued at $33,000. Finally, nVerses Capital LLC purchased a new stake in AES during the 2nd quarter worth about $33,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Stock Performance

Shares of AES stock opened at $18.90 on Friday. 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 has a market cap of $13.43 billion, a P/E ratio of 26.25 and a beta of 1.07. The business has a 50-day moving average price of $17.40 and a two-hundred day moving average price of $18.03. The AES Co. has a 12-month low of $11.43 and a 12-month high of $22.21.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, beating 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 business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.1725 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. AES’s dividend payout ratio (DPR) is currently 95.83%.

Wall Street Analyst Weigh In

AES has been the subject of a number of recent analyst reports. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday. Barclays decreased their target price on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Jefferies Financial Group initiated coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

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.