Summit Global Investments Makes New Investment in The AES Co. (NYSE:AES)

Summit Global Investments acquired a new position in shares of The AES Co. (NYSE:AES - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 40,670 shares of the utilities provider's stock, valued at approximately $816,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AES. Rise Advisors LLC grew its position in AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider's stock valued at $26,000 after buying an additional 720 shares during the period. Rothschild Investment LLC acquired a new position in shares of AES during the second quarter worth $28,000. UMB Bank n.a. raised 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 purchased a new stake in AES in the second quarter valued at $33,000. Finally, Cromwell Holdings LLC grew its stake in 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 buying an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Stock Performance

Shares of NYSE:AES traded down $0.05 during trading on Friday, hitting $13.60. 19,844,688 shares of the stock were exchanged, compared to its average volume of 11,451,927. The company's fifty day simple moving average is $17.55 and its 200-day simple moving average is $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 market capitalization of $9.67 billion, a price-to-earnings ratio of 9.44 and a beta of 1.10. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES (NYSE:AES - Get Free Report) last issued its 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. AES had a net margin of 8.34% and a return on equity of 27.30%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the firm earned $0.60 EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. Sell-side analysts expect that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 5.07%. AES's dividend payout ratio (DPR) is presently 47.92%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group began 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. Susquehanna lowered their target price on shares of AES from $24.00 to $21.00 and set a "positive" rating for the company in a report on Tuesday, November 5th. Barclays boosted their target price on AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Finally, Evercore ISI upgraded AES to a "strong-buy" rating in a research note on Wednesday, September 18th. Two investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.