Envestnet Asset Management Inc. Raises Stock Holdings in The AES Co. (NYSE:AES)

Envestnet Asset Management Inc. increased its stake in shares of The AES Co. (NYSE:AES) by 18.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,066,251 shares of the utilities provider’s stock after purchasing an additional 168,348 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of AES worth $18,734,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AES. Rise Advisors LLC increased its position in 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 acquired a new position in AES during the 2nd quarter valued at about $28,000. UMB Bank n.a. increased its position in AES by 102.3% during the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares in the last quarter. Riverview Trust Co acquired a new position in AES during the 1st quarter valued at about $33,000. Finally, nVerses Capital LLC acquired a new position in AES during the 2nd quarter valued at about $33,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AES. Barclays reduced their target price on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

AES Stock Up 2.2 %

AES stock opened at $19.32 on Tuesday. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 26.83 and a beta of 1.07. The AES Co. has a 52 week low of $11.43 and a 52 week high of $22.21. The business’s 50-day moving average price is $17.45 and its 200 day moving average price is $18.06. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63.

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

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given 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 yield of 3.57%. AES’s dividend payout ratio is currently 95.83%.

AES 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.