Gabelli Funds LLC Has $64.26 Million Stock Holdings in The AES Co. (NYSE:AES)

Gabelli Funds LLC lessened its holdings in The AES Co. (NYSE:AES - Free Report) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,657,600 shares of the utilities provider's stock after selling 32,100 shares during the quarter. Gabelli Funds LLC owned 0.51% of AES worth $64,264,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AES. CWM LLC lifted its position in AES by 2.4% during the 2nd quarter. CWM LLC now owns 27,122 shares of the utilities provider's stock worth $477,000 after buying an additional 628 shares in the last quarter. Raymond James Trust N.A. boosted its position in AES by 1.6% during the second quarter. Raymond James Trust N.A. now owns 44,433 shares of the utilities provider's stock valued at $781,000 after purchasing an additional 711 shares during the last quarter. Rise Advisors LLC grew its stake in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 720 shares in the last quarter. Empirical Finance LLC increased its position in shares of AES by 4.7% during the 1st quarter. Empirical Finance LLC now owns 18,185 shares of the utilities provider's stock worth $326,000 after purchasing an additional 823 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of AES by 102.3% during the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider's stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company's stock.

AES Price Performance

AES stock remained flat at $18.90 during trading hours on Friday. 19,704,232 shares of the company's stock traded hands, compared to its average volume of 8,174,920. The business's 50 day moving average is $17.40 and its 200-day moving average is $18.04. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of 26.25 and a beta of 1.07. The AES Co. has a 52-week low of $11.43 and a 52-week high of $22.21.

AES (NYSE:AES - Get Free Report) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the company earned $0.21 earnings per share. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, research analysts expect that The AES Co. will post 1.91 earnings per share for the current year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, August 1st. AES's dividend payout ratio is 95.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of AES in a report on Wednesday, September 11th. They set a "buy" rating and a $20.00 target price on the stock. Barclays lowered their price objective on shares of AES from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Monday, July 22nd. Finally, Evercore ISI upgraded shares of AES to a "strong-buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AES presently has an average rating of "Moderate Buy" and a consensus target price of $21.50.

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.