The Manufacturers Life Insurance Company Has $48.23 Million Stock Position in The AES Co. (NYSE:AES)

The Manufacturers Life Insurance Company raised its position in shares of The AES Co. (NYSE:AES) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,404,088 shares of the utilities provider’s stock after purchasing an additional 108,913 shares during the period. The Manufacturers Life Insurance Company’s holdings in AES were worth $48,226,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC raised its position in AES by 92.4% during 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 in the last quarter. Rothschild Investment LLC acquired a new position in shares of AES during the second quarter worth $28,000. UMB Bank n.a. increased its holdings in shares of AES by 102.3% during 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 in the last quarter. nVerses Capital LLC acquired a new position in shares of AES during the second quarter worth $33,000. Finally, Cromwell Holdings LLC increased its holdings in shares of AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on AES. Bank of America began coverage on shares of AES in a report on Monday. They set an “underperform” rating and a $11.00 price target for the company. Jefferies Financial Group began coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Susquehanna decreased their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Barclays increased their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.22.

AES Stock Performance

Shares of AES opened at $12.99 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock has a market capitalization of $9.24 billion, a P/E ratio of 9.02 and a beta of 1.10. The firm’s fifty day simple moving average is $16.47 and its two-hundred day simple moving average is $17.76. The AES Co. has a 12 month low of $12.53 and a 12 month high of $22.21.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, analysts predict that The AES Co. will post 1.94 EPS for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.1725 per share. The ex-dividend date was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 5.31%. AES’s dividend payout ratio (DPR) is currently 47.92%.

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.