Secure Asset Management LLC Invests $1.72 Million in The AES Co. (NYSE:AES)

Secure Asset Management LLC acquired a new stake in shares of The AES Co. (NYSE:AES - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 85,940 shares of the utilities provider's stock, valued at approximately $1,724,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its holdings in shares of AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider's stock worth $26,000 after purchasing an additional 720 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of AES in the 2nd quarter worth $28,000. 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 worth $31,000 after purchasing an additional 898 shares in the last quarter. Riverview Trust Co purchased a new position in shares of AES in the 1st quarter worth $33,000. Finally, nVerses Capital LLC purchased a new position in shares of AES in the 2nd quarter worth $33,000. Institutional investors own 93.13% of the company's stock.

AES Stock Performance

NYSE AES traded up $0.22 on Friday, hitting $17.47. 4,330,935 shares of the company traded hands, compared to its average volume of 8,129,387. The company has a market capitalization of $12.42 billion, a price-to-earnings ratio of 24.26 and a beta of 1.07. 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 business's 50 day moving average price is $17.99 and its 200-day moving average price is $18.34. The AES Co. has a 52-week low of $13.55 and a 52-week high of $22.21.

AES (NYSE:AES - Get Free Report) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. AES's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Equities analysts expect that The AES Co. will post 1.9 earnings per share for the current year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.1725 per share. The ex-dividend date is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 3.95%. AES's dividend payout ratio is presently 95.83%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AES shares. Evercore ISI upgraded AES to a "strong-buy" rating in a research note on Wednesday, September 18th. Barclays dropped their price target on AES from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Monday, July 22nd. Finally, Jefferies Financial Group started coverage on AES in a research note on Wednesday, September 11th. They issued a "buy" rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.43.

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.