Sumitomo Mitsui Trust Group Inc. Purchases 59,735 Shares of The AES Co. (NYSE:AES)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of The AES Co. (NYSE:AES - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,596,000 shares of the utilities provider's stock after purchasing an additional 59,735 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of AES worth $32,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AES. Rise Advisors LLC grew its position in shares of AES by 92.4% during 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 acquired a new stake in shares of AES during the 2nd quarter worth approximately $28,000. UMB Bank n.a. boosted its position 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 acquiring an additional 898 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of AES during the 2nd quarter worth approximately $33,000. Finally, Cromwell Holdings LLC boosted its position in shares of AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider's stock worth $35,000 after acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AES. Evercore ISI upgraded shares of AES to a "strong-buy" rating in a research report on Wednesday, September 18th. Barclays increased their price target 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. Jefferies Financial Group assumed coverage on shares of AES in a research note on Wednesday, September 11th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Susquehanna dropped their price objective on shares of AES from $24.00 to $21.00 and set a "positive" rating for the company in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, AES currently has a consensus rating of "Moderate Buy" and an average target price of $22.38.

AES Trading Down 0.2 %

Shares of AES stock traded down $0.03 during trading hours on Friday, hitting $13.97. 11,948,903 shares of the company's stock traded hands, compared to its average volume of 14,356,984. The stock's 50 day simple moving average is $17.25 and its 200 day simple moving average is $18.08. The stock has a market cap of $9.93 billion, a PE ratio of 9.70 and a beta of 1.10. The AES Co. has a 12 month low of $13.27 and a 12 month high of $22.21. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. On average, sell-side analysts anticipate that The AES Co. will post 1.93 EPS for the current year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Friday, November 1st. AES's payout ratio is currently 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.