Concurrent Investment Advisors LLC Makes New Investment in The AES Co. (NYSE:AES)

Concurrent Investment Advisors LLC purchased a new position in The AES Co. (NYSE:AES) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 22,106 shares of the utilities provider’s stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC raised its position in AES by 1.9% in the first quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock worth $2,237,000 after acquiring an additional 2,273 shares in the last quarter. SG Americas Securities LLC raised its holdings in AES by 735.2% during the 1st quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock worth $11,070,000 after buying an additional 543,464 shares during the period. New Century Financial Group LLC acquired a new stake in AES during the 1st quarter worth about $1,235,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AES by 20.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock worth $15,049,000 after buying an additional 140,610 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in AES by 178.5% during the 1st quarter. Lazard Asset Management LLC now owns 689,879 shares of the utilities provider’s stock worth $12,369,000 after buying an additional 442,184 shares during the period. 93.13% of the stock is currently owned by institutional investors.

AES Trading Down 2.2 %

NYSE:AES opened at $16.75 on Wednesday. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $22.21. The stock’s 50-day moving average is $17.45 and its two-hundred day moving average is $17.86. The stock has a market cap of $11.90 billion, a PE ratio of 23.26 and a beta of 1.08.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. As a group, equities research analysts forecast that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.1725 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.12%. AES’s dividend payout ratio (DPR) is presently 95.83%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AES. Seaport Res Ptn downgraded AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Mizuho boosted their price objective on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Barclays cut their price objective on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

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.