Kerusso Capital Management LLC Buys 9,280 Shares of The AES Co. (NYSE:AES)

Kerusso Capital Management LLC boosted its stake in The AES Co. (NYSE:AES) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 154,878 shares of the utilities provider’s stock after acquiring an additional 9,280 shares during the period. AES accounts for about 2.0% of Kerusso Capital Management LLC’s holdings, making the stock its 20th biggest position. Kerusso Capital Management LLC’s holdings in AES were worth $3,107,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in AES by 161.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock worth $2,035,000 after buying an additional 66,145 shares during the last quarter. Empowered Funds LLC grew its stake in AES by 1.9% during the first quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock valued at $2,237,000 after acquiring an additional 2,273 shares in the last quarter. M&G PLC raised its position in shares of AES by 12.7% in the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock worth $130,235,000 after buying an additional 732,457 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of AES by 735.2% in the 1st quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock valued at $11,070,000 after acquiring an additional 543,464 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of AES by 20.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock valued at $15,049,000 after acquiring an additional 140,610 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on AES. Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Susquehanna cut their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday. Barclays raised their price target on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

AES Trading Down 0.4 %

AES stock traded down $0.05 during trading on Friday, reaching $13.60. The company had a trading volume of 19,844,688 shares, compared to its average volume of 8,586,475. The AES Co. has a 52 week low of $13.30 and a 52 week high of $22.21. The business has a 50 day moving average of $17.55 and a 200 day moving average of $18.21. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The company has a market cap of $9.67 billion, a P/E ratio of 9.44 and a beta of 1.10.

AES (NYSE:AES) last announced its earnings results 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. AES had a net margin of 8.34% and a return on equity of 27.30%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Friday, November 1st. AES’s dividend payout ratio (DPR) 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.