Bleakley Financial Group LLC Decreases Stock Holdings in The AES Co. (NYSE:AES)

Bleakley Financial Group LLC decreased its holdings in The AES Co. (NYSE:AES) by 67.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,340 shares of the utilities provider’s stock after selling 151,881 shares during the quarter. Bleakley Financial Group LLC’s holdings in AES were worth $1,471,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC raised its position in AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after buying an additional 720 shares during the last quarter. Rothschild Investment LLC purchased a new position in AES in the 2nd quarter worth about $28,000. UMB Bank n.a. increased its position in shares of AES by 102.3% during the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 898 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of AES during the 1st quarter valued at about $33,000. Finally, nVerses Capital LLC purchased a new stake in shares of AES during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Trading Up 1.3 %

Shares of NYSE:AES opened at $17.47 on Friday. The AES Co. has a 12-month low of $13.55 and a 12-month high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The company has a market cap of $12.42 billion, a PE ratio of 24.26 and a beta of 1.07. The stock has a 50 day moving average of $17.99 and a 200 day moving average of $18.34.

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 business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that The AES Co. will post 1.9 EPS for the current year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 3.95%. AES’s payout ratio is 95.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AES. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Finally, Barclays reduced their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.43.

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.