Concurrent Investment Advisors LLC Raises Stock Holdings in The AES Co. (NYSE:AES)

Concurrent Investment Advisors LLC increased its position in The AES Co. (NYSE:AES - Free Report) by 237.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 74,668 shares of the utilities provider's stock after acquiring an additional 52,562 shares during the quarter. Concurrent Investment Advisors LLC's holdings in AES were worth $1,498,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. United Advisor Group LLC purchased a new stake in shares of AES during the 3rd quarter valued at approximately $368,000. Asset Management One Co. Ltd. lifted its position in shares of AES by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 357,402 shares of the utilities provider's stock worth $7,169,000 after acquiring an additional 1,269 shares in the last quarter. Emerald Advisers LLC grew its position in shares of AES by 27.9% in the third quarter. Emerald Advisers LLC now owns 64,896 shares of the utilities provider's stock valued at $1,302,000 after purchasing an additional 14,162 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of AES by 10.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,672 shares of the utilities provider's stock valued at $5,349,000 after purchasing an additional 25,720 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in AES by 36.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 12,378 shares of the utilities provider's stock worth $248,000 after purchasing an additional 3,285 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Price Performance

NYSE AES traded down $0.05 during trading hours on Friday, reaching $13.60. 19,844,688 shares of the stock traded hands, compared to its average volume of 8,586,475. The stock has a 50 day simple moving average of $17.55 and a two-hundred day simple moving average of $18.21. The AES Co. has a 1 year low of $13.30 and a 1 year high of $22.21. 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 price-to-earnings ratio of 9.44 and a beta of 1.10.

AES (NYSE:AES - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS 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 for the quarter, compared to analysts' expectations of $3.46 billion. During the same period last year, the business earned $0.60 earnings per share. The business's quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that The AES Co. will post 1.93 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.07%. AES's dividend payout ratio (DPR) is currently 47.92%.

Analyst Upgrades and Downgrades

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

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.