The AES Co. (NYSE:AES) Shares Bought by Quarry LP

Quarry LP grew its stake in shares of The AES Co. (NYSE:AES) by 9.9% during the third quarter, Holdings Channel reports. The firm owned 118,027 shares of the utilities provider’s stock after purchasing an additional 10,602 shares during the period. Quarry LP’s holdings in AES were worth $2,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in AES during the third quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in AES during the second quarter worth approximately $28,000. Cromwell Holdings LLC increased its holdings in shares of AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 640 shares during the period. UMB Bank n.a. increased its holdings in shares of AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of AES in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analysts Set New Price Targets

AES has been the topic of a number of recent research reports. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Bank of America initiated coverage on shares of AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price on the stock. Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group started coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Mizuho lowered 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AES presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.22.

AES Price Performance

Shares of NYSE AES opened at $13.43 on Thursday. The firm has a market capitalization of $9.55 billion, a P/E ratio of 9.33, a PEG ratio of 0.68 and a beta of 1.01. The AES Co. has a one year low of $12.53 and a one year high of $22.21. The company’s fifty day moving average is $15.87 and its two-hundred day moving average is $17.49. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES (NYSE:AES) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping 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 company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Analysts forecast that The AES Co. will post 1.95 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.14%. AES’s dividend payout ratio (DPR) is 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.