International Assets Investment Management LLC Invests $2.80 Million in The AES Co. (NYSE:AES)

International Assets Investment Management LLC acquired a new position in The AES Co. (NYSE:AES) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 139,718 shares of the utilities provider’s stock, valued at approximately $2,803,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AES. DekaBank Deutsche Girozentrale raised its position in shares of AES by 161.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock worth $2,035,000 after purchasing an additional 66,145 shares during the period. Empowered Funds LLC raised its position in shares of AES by 1.9% during the first quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock worth $2,237,000 after purchasing an additional 2,273 shares during the period. SG Americas Securities LLC raised its position in shares of AES by 735.2% during the first quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock worth $11,070,000 after purchasing an additional 543,464 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AES by 20.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock worth $15,049,000 after purchasing an additional 140,610 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of AES by 178.5% during the first quarter. Lazard Asset Management LLC now owns 689,879 shares of the utilities provider’s stock worth $12,369,000 after purchasing an additional 442,184 shares during the period. Institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

AES has been the topic of a number of recent analyst reports. Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Barclays upped their price target on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group began 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 analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and a consensus price target of $22.57.

AES Stock Performance

Shares of NYSE AES opened at $14.71 on Friday. The business’s 50-day moving average price is $17.85 and its two-hundred day moving average price is $18.27. 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 $14.68 and a one year high of $22.21. The company has a market capitalization of $10.46 billion, a P/E ratio of 10.22 and a beta of 1.07.

AES (NYSE:AES) last issued its earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts anticipate that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.1725 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.69%. AES’s dividend payout ratio (DPR) is presently 47.92%.

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.