Mutual of America Capital Management LLC Sells 87,995 Shares of The AES Co. (NYSE:AES)

Mutual of America Capital Management LLC lessened its holdings in shares of The AES Co. (NYSE:AES) by 50.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,530 shares of the utilities provider’s stock after selling 87,995 shares during the period. Mutual of America Capital Management LLC’s holdings in AES were worth $1,756,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. River Street Advisors LLC increased its stake in AES by 8.1% in the third quarter. River Street Advisors LLC now owns 18,240 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 1,373 shares during the period. Empowered Funds LLC lifted its holdings in AES by 8.0% during the 3rd quarter. Empowered Funds LLC now owns 11,179 shares of the utilities provider’s stock valued at $224,000 after buying an additional 830 shares in the last quarter. CIBC Asset Management Inc boosted its position in AES by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 104,521 shares of the utilities provider’s stock valued at $2,097,000 after buying an additional 8,061 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of AES by 3.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 447,842 shares of the utilities provider’s stock worth $8,984,000 after acquiring an additional 16,750 shares during the period. Finally, OLD Second National Bank of Aurora raised its stake in shares of AES by 1.0% during the third quarter. OLD Second National Bank of Aurora now owns 84,624 shares of the utilities provider’s stock valued at $1,698,000 after acquiring an additional 835 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Stock Performance

AES opened at $13.04 on Monday. The firm’s 50-day moving average price is $16.85 and its 200-day moving average price is $17.89. The company has a market cap of $9.27 billion, a P/E ratio of 9.06 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The AES Co. has a 52-week low of $12.97 and a 52-week high of $22.21.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.1725 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 5.29%. AES’s dividend payout ratio (DPR) is presently 47.92%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AES. Barclays increased their price target on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Mizuho cut their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday. Susquehanna lowered their target price on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.38.

About AES

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.