ArrowMark Colorado Holdings LLC Acquires Shares of 275,000 The AES Co. (NYSE:AES)

ArrowMark Colorado Holdings LLC acquired a new position in shares of The AES Co. (NYSE:AES - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 275,000 shares of the utilities provider's stock, valued at approximately $5,516,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. acquired a new position in shares of AES during the third quarter valued at $1,619,000. Edgestream Partners L.P. bought a new position in shares of AES in the 3rd quarter valued at about $557,000. Rockefeller Capital Management L.P. raised its stake in shares of AES by 33.2% during the third quarter. Rockefeller Capital Management L.P. now owns 512,723 shares of the utilities provider's stock worth $10,284,000 after buying an additional 127,850 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its stake in AES by 200.8% in the third quarter. Infrastructure Capital Advisors LLC now owns 159,323 shares of the utilities provider's stock valued at $3,196,000 after acquiring an additional 106,359 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AES by 9.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,946,862 shares of the utilities provider's stock worth $59,114,000 after acquiring an additional 254,197 shares during the period. Institutional investors and hedge funds own 93.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AES. Mizuho decreased their target price on AES from $24.00 to $16.00 and set an "outperform" rating for the company in a research report on Thursday, November 21st. Jefferies Financial Group initiated coverage on shares of AES in a research note on Wednesday, September 11th. They issued a "buy" rating and a $20.00 target price for the company. Evercore ISI raised shares of AES to a "strong-buy" rating in a report on Wednesday, September 18th. Susquehanna dropped their price objective on AES from $24.00 to $21.00 and set a "positive" rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays increased their price target on AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.22.

AES Stock Performance

NYSE:AES traded up $0.29 on Tuesday, hitting $13.30. The company's stock had a trading volume of 5,227,142 shares, compared to its average volume of 9,038,463. 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 AES Co. has a one year low of $12.53 and a one year high of $22.21. The stock has a fifty day moving average of $16.11 and a two-hundred day moving average of $17.57. The firm has a market capitalization of $9.46 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.02.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.11. The firm had revenue of $3.29 billion during 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 company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. Research analysts predict that The AES Co. will post 1.95 earnings per share for the current year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 5.19%. The ex-dividend date of this dividend was Friday, November 1st. AES's dividend payout ratio is presently 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.