Victory Capital Management Inc. Has $38.15 Million Holdings in The AES Co. (NYSE:AES)

Victory Capital Management Inc. lowered its stake in shares of The AES Co. (NYSE:AES - Free Report) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,901,857 shares of the utilities provider's stock after selling 196,917 shares during the quarter. Victory Capital Management Inc. owned about 0.27% of AES worth $38,151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AES. Vanguard Group Inc. grew its holdings in AES by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider's stock valued at $1,608,773,000 after buying an additional 1,929,523 shares during the last quarter. Capital International Investors increased its position in AES by 11.4% during the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider's stock worth $1,392,110,000 after acquiring an additional 7,969,594 shares during the period. M&G PLC raised its stake in AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider's stock valued at $130,235,000 after purchasing an additional 732,457 shares during the last quarter. Bank of New York Mellon Corp grew its position in AES by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider's stock worth $83,805,000 after purchasing an additional 141,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AES by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,132,744 shares of the utilities provider's stock worth $55,084,000 after purchasing an additional 444,252 shares during the period. Institutional investors and hedge funds own 93.13% of the company's stock.

Analysts Set New Price Targets

AES has been the topic of several research reports. Susquehanna lowered their price target on AES from $24.00 to $21.00 and set a "positive" rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on AES in a research report on Wednesday, September 11th. They issued a "buy" rating and a $20.00 target price for the company. Barclays boosted their price target on shares of AES from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Finally, Evercore ISI upgraded shares of AES to a "strong-buy" rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.38.

AES Price Performance

AES stock traded down $0.03 during trading hours on Friday, hitting $13.97. 11,948,903 shares of the stock were exchanged, compared to its average volume of 14,356,984. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market capitalization of $9.93 billion, a P/E ratio of 9.70 and a beta of 1.10. The business's 50-day moving average is $17.25 and its two-hundred day moving average is $18.09. The AES Co. has a 12 month low of $13.27 and a 12 month high of $22.21.

AES (NYSE:AES - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm's quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.1725 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.94%. AES's dividend payout ratio is presently 47.92%.

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.