DRW Securities LLC Invests $711,000 in The AES Co. (NYSE:AES)

DRW Securities LLC purchased a new stake in The AES Co. (NYSE:AES) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,419 shares of the utilities provider’s stock, valued at approximately $711,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its holdings in shares of AES by 11.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 86,513 shares of the utilities provider’s stock worth $1,735,000 after buying an additional 9,017 shares during the period. Algert Global LLC grew its holdings in AES by 498.8% during the 3rd quarter. Algert Global LLC now owns 140,175 shares of the utilities provider’s stock worth $2,812,000 after acquiring an additional 116,765 shares in the last quarter. Cerity Partners LLC increased its position in AES by 15.3% during the 3rd quarter. Cerity Partners LLC now owns 167,223 shares of the utilities provider’s stock valued at $3,354,000 after purchasing an additional 22,187 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of AES by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after purchasing an additional 82,956 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in shares of AES by 23.5% in the 3rd quarter. Foundry Partners LLC now owns 975,499 shares of the utilities provider’s stock worth $19,569,000 after purchasing an additional 185,873 shares during the period. Institutional investors own 93.13% of the company’s stock.

AES Stock Down 4.4 %

AES stock opened at $12.58 on Wednesday. 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 $12.53 and a 52 week high of $22.21. The stock has a market capitalization of $8.94 billion, a PE ratio of 8.73 and a beta of 1.10. The firm has a 50 day moving average of $16.73 and a 200 day moving average of $17.84.

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. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.60 earnings per share. Sell-side analysts forecast that The AES Co. will post 1.94 earnings per share for the current year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Friday, November 1st. AES’s dividend payout ratio (DPR) is 47.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Susquehanna reduced their price target on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Bank of America started coverage on AES in a research report on Monday. They set an “underperform” rating and a $11.00 price objective on the stock. Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Finally, 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 research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AES currently has an average rating of “Moderate Buy” and a consensus target price of $20.22.

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.