Choreo LLC Makes New $376,000 Investment in The AES Co. (NYSE:AES)

Choreo LLC bought a new stake in shares of The AES Co. (NYSE:AES) during the second quarter, Holdings Channel reports. The fund bought 21,543 shares of the utilities provider’s stock, valued at approximately $376,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC raised 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 during the last quarter. Rothschild Investment LLC acquired a new stake in shares of AES in the second quarter worth approximately $28,000. UMB Bank n.a. increased its position in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Riverview Trust Co acquired a new position in AES in the 1st quarter valued at $33,000. Finally, nVerses Capital LLC acquired a new stake in AES during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $19.01 on Tuesday. The company’s 50 day simple moving average is $17.31 and its 200-day simple moving average is $17.93. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97. The AES Co. has a 1 year low of $11.43 and a 1 year high of $22.21. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 26.40 and a beta of 1.07.

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

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a yield of 3.63%. AES’s dividend payout ratio (DPR) is presently 95.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AES shares. Seaport Res Ptn downgraded shares of AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Barclays reduced their price target on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Jefferies Financial Group assumed coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

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.