Huber Capital Management LLC Decreases Position in The AES Co. (NYSE:AES)

Huber Capital Management LLC reduced its stake in shares of The AES Co. (NYSE:AES) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,452 shares of the utilities provider’s stock after selling 2,679 shares during the quarter. Huber Capital Management LLC’s holdings in AES were worth $1,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its stake in shares of AES by 76.9% during the fourth quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock valued at $1,373,460,000 after purchasing an additional 31,009,718 shares during the period. Capital International Investors grew its holdings in AES by 11.4% in the 1st 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 last quarter. M&G Plc purchased a new position in shares of AES in the first quarter valued at about $123,272,000. Goldman Sachs Group Inc. raised its stake in shares of AES by 70.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock valued at $124,008,000 after acquiring an additional 2,670,001 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of AES by 2.2% in the first quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock worth $1,608,773,000 after purchasing an additional 1,929,523 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.

Analyst Ratings Changes

AES has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Barclays cut their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AES currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

AES Stock Performance

NYSE:AES opened at $18.90 on Friday. The firm has a market capitalization of $13.43 billion, a P/E ratio of 26.25 and a beta of 1.07. 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 one year low of $11.43 and a one year high of $22.21. The company’s 50-day simple moving average is $17.40 and its 200 day simple moving average is $18.01.

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

AES Dividend Announcement

The company also recently disclosed 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 was Thursday, August 1st. This represents a $0.69 dividend on an annualized basis and a yield of 3.65%. AES’s dividend payout ratio is currently 95.83%.

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.