The AES Co. (NYSE:AES) Position Reduced by Raymond James & Associates

Raymond James & Associates lowered its stake in The AES Co. (NYSE:AES) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,750,371 shares of the utilities provider’s stock after selling 122,179 shares during the period. Raymond James & Associates’ holdings in AES were worth $55,172,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AES. CWM LLC raised its stake in AES by 2.4% during the second quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock valued at $477,000 after buying an additional 628 shares in the last quarter. Raymond James Trust N.A. lifted its stake in AES by 1.6% during the second quarter. Raymond James Trust N.A. now owns 44,433 shares of the utilities provider’s stock worth $781,000 after purchasing an additional 711 shares during the last quarter. Rise Advisors LLC increased its stake in AES by 92.4% during the second 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 during the last quarter. Empirical Finance LLC raised its holdings in shares of AES by 4.7% during the first quarter. Empirical Finance LLC now owns 18,185 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 823 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its position in shares of AES by 3.2% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 26,301 shares of the utilities provider’s stock worth $528,000 after buying an additional 826 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Stock Down 1.5 %

Shares of AES stock opened at $17.20 on Tuesday. The stock has a market cap of $12.22 billion, a PE ratio of 23.89 and a beta of 1.07. The AES Co. has a 1 year low of $13.55 and a 1 year high of $22.21. The business’s fifty day moving average is $18.00 and its 200-day moving average is $18.34. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97.

AES (NYSE:AES) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Equities analysts expect that The AES Co. will post 1.9 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.1725 per share. The ex-dividend date is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.01%. AES’s payout ratio is presently 95.83%.

Analyst Ratings Changes

Several research firms recently weighed in on AES. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group initiated coverage on AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Barclays upped their price objective on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.57.

About AES

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.