AE Wealth Management LLC Increases Stock Position in The AES Co. (NYSE:AES)

AE Wealth Management LLC boosted its position in The AES Co. (NYSE:AES) by 19.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,159 shares of the utilities provider’s stock after buying an additional 18,293 shares during the quarter. AE Wealth Management LLC’s holdings in AES were worth $1,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its holdings in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of AES during the second quarter worth approximately $28,000. UMB Bank n.a. increased its stake 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 buying an additional 898 shares during the last quarter. Riverview Trust Co acquired a new stake in AES in the first quarter valued at $33,000. Finally, nVerses Capital LLC bought a new position in AES during the 2nd quarter valued at $33,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Trading Up 2.2 %

NYSE:AES opened at $19.32 on Tuesday. The firm has a market capitalization of $13.73 billion, a P/E ratio of 26.83 and a beta of 1.07. The business has a 50 day simple moving average of $17.45 and a 200 day simple moving average of $18.06. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The AES Co. has a 12-month low of $11.43 and a 12-month high of $22.21.

AES (NYSE:AES) last released its quarterly 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 business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Equities research analysts predict that The AES Co. will post 1.91 EPS for the current year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, August 1st. AES’s dividend payout ratio (DPR) is 95.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AES shares. Barclays cut their target price on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Jefferies Financial Group started coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.