Advisors Asset Management Inc. Has $2.37 Million Stake in The AES Co. (NYSE:AES)

Advisors Asset Management Inc. lessened its holdings in The AES Co. (NYSE:AES) by 20.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,256 shares of the utilities provider’s stock after selling 30,911 shares during the quarter. Advisors Asset Management Inc.’s holdings in AES were worth $2,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurich Insurance Group Ltd FI acquired a new position in AES in the second quarter worth about $30,746,000. Zimmer Partners LP raised its holdings in shares of AES by 482.8% in the 1st quarter. Zimmer Partners LP now owns 1,865,000 shares of the utilities provider’s stock worth $33,439,000 after buying an additional 1,545,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AES by 169.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock worth $43,002,000 after buying an additional 1,348,195 shares during the period. Hsbc Holdings PLC boosted its stake in AES by 41.1% in the 2nd quarter. Hsbc Holdings PLC now owns 2,898,119 shares of the utilities provider’s stock valued at $51,293,000 after buying an additional 844,888 shares in the last quarter. Finally, TCW Group Inc. raised its stake in AES by 45.8% during the second quarter. TCW Group Inc. now owns 2,639,694 shares of the utilities provider’s stock worth $46,379,000 after acquiring an additional 828,840 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

AES has been the topic of several analyst reports. 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 target price on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Susquehanna decreased their price target on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Mizuho cut their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Barclays increased their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.38.

AES Price Performance

Shares of AES stock opened at $13.04 on Friday. The firm has a market cap of $9.27 billion, a price-to-earnings 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 12 month low of $12.97 and a 12 month high of $22.21. The stock has a 50-day moving average price of $16.85 and a 200 day moving average price of $17.90.

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 the consensus estimate of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the business posted $0.60 earnings per share. AES’s revenue was down 4.2% compared to the same quarter last year. Research analysts expect that The AES Co. will post 1.93 EPS for the current year.

AES Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.29%. AES’s dividend payout ratio is presently 47.92%.

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.