Schubert & Co Buys Shares of 19,432 The AES Co. (NYSE:AES)

Schubert & Co purchased a new stake in The AES Co. (NYSE:AES) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,432 shares of the utilities provider’s stock, valued at approximately $390,000.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its holdings in AES by 69.3% in the third quarter. Blue Trust Inc. now owns 3,688 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 1,509 shares during the period. Net Worth Advisory Group bought a new stake in shares of AES in the 3rd quarter valued at $329,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in AES by 3.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,949 shares of the utilities provider’s stock worth $1,363,000 after buying an additional 2,150 shares during the period. Ellsworth Advisors LLC grew its stake in AES by 21.5% in the third quarter. Ellsworth Advisors LLC now owns 68,595 shares of the utilities provider’s stock valued at $1,376,000 after acquiring an additional 12,155 shares during the period. Finally, Secure Asset Management LLC bought a new stake in shares of AES in the third quarter worth about $1,724,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Stock Up 1.3 %

Shares of AES stock traded up $0.22 during trading on Friday, reaching $17.47. The company’s stock had a trading volume of 4,422,377 shares, compared to its average volume of 8,129,387. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 24.26 and a beta of 1.07. The AES Co. has a one year low of $13.55 and a one year high of $22.21. The business has a fifty day moving average price of $17.99 and a 200-day moving average price of $18.34. 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 quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.21 EPS. Analysts anticipate that The AES Co. will post 1.9 earnings per share for the current year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, November 1st. AES’s dividend payout ratio is currently 95.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays cut their price objective on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Jefferies Financial Group started 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. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.43.

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.