Wallace Advisory Group LLC Sells 754 Shares of The AES Co. (NYSE:AES)

Wallace Advisory Group LLC cut its position in shares of The AES Co. (NYSE:AES) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 22,247 shares of the utilities provider’s stock after selling 754 shares during the period. Wallace Advisory Group LLC’s holdings in AES were worth $446,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Rise Advisors LLC raised its holdings in shares of AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares in the last quarter. Rothschild Investment LLC bought a new position in AES in the second quarter worth approximately $28,000. UMB Bank n.a. lifted its holdings in 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 buying an additional 898 shares during the period. Riverview Trust Co purchased a new position in shares of AES in the 1st quarter valued at $33,000. Finally, nVerses Capital LLC bought a new position in shares of AES in the 2nd quarter worth $33,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays reduced their target price on shares of AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group started coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.50.

AES Stock Performance

AES traded down $0.22 on Friday, reaching $18.91. 10,668,366 shares of the stock were exchanged, compared to its average volume of 8,167,876. The company’s 50-day moving average price is $17.86 and its 200 day moving average price is $18.28. 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 firm has a market capitalization of $13.44 billion, a PE ratio of 26.26 and a beta of 1.07. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $22.21.

AES (NYSE:AES) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. AES’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that The AES Co. will post 1.9 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given 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 3.65%. AES’s dividend payout ratio is presently 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.