Mirae Asset Global Investments Co. Ltd. lessened its position in The AES Co. (NYSE:AES - Free Report) by 63.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,410 shares of the utilities provider's stock after selling 86,983 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AES were worth $1,012,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the company. Cromwell Holdings LLC increased its holdings in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 640 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of AES by 4.0% during the third quarter. Mount Yale Investment Advisors LLC now owns 271,500 shares of the utilities provider's stock worth $5,446,000 after purchasing an additional 10,440 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in shares of AES by 7.4% in the third quarter. Spirit of America Management Corp NY now owns 29,000 shares of the utilities provider's stock valued at $582,000 after buying an additional 2,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in AES by 169.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider's stock worth $43,002,000 after buying an additional 1,348,195 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in AES during the 3rd quarter worth about $2,803,000. Institutional investors and hedge funds own 93.13% of the company's stock.
AES Trading Down 9.7 %
NYSE AES traded down $1.59 on Friday, reaching $14.71. The company had a trading volume of 30,895,243 shares, compared to its average volume of 8,289,021. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63. The AES Co. has a 52 week low of $14.68 and a 52 week high of $22.21. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 10.22 and a beta of 1.07. The stock's 50 day moving average is $17.85 and its 200-day moving average is $18.27.
AES (NYSE:AES - Get Free Report) last announced its quarterly 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 6.07% and a return on equity of 32.74%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the company posted $0.60 EPS. AES's revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts predict that The AES Co. will post 1.91 earnings per share for the current year.
AES Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.69%. AES's payout ratio is 47.92%.
Analyst Ratings Changes
AES has been the topic of a number of research reports. Barclays upped their target price on shares of AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Evercore ISI raised AES to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on AES in a research note on Wednesday, September 11th. They set 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 issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.57.
View Our Latest Report on AES
About AES
(
Free Report)
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.
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