State of Alaska Department of Revenue Has $1.66 Million Stock Holdings in The AES Co. (NYSE:AES)

State of Alaska Department of Revenue lifted its stake in shares of The AES Co. (NYSE:AES) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,888 shares of the utilities provider’s stock after purchasing an additional 5,605 shares during the period. State of Alaska Department of Revenue’s holdings in AES were worth $1,662,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norden Group LLC lifted its stake in AES by 80.3% in the first quarter. Norden Group LLC now owns 27,902 shares of the utilities provider’s stock valued at $500,000 after acquiring an additional 12,429 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in AES by 316.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,872 shares of the utilities provider’s stock valued at $5,843,000 after purchasing an additional 247,663 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in AES by 33.3% during the first quarter. BNP Paribas Financial Markets now owns 794,793 shares of the utilities provider’s stock worth $14,251,000 after purchasing an additional 198,360 shares during the period. Janney Montgomery Scott LLC raised its stake in AES by 729.0% in the first quarter. Janney Montgomery Scott LLC now owns 278,575 shares of the utilities provider’s stock valued at $4,995,000 after buying an additional 244,973 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of AES by 10.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,033 shares of the utilities provider’s stock valued at $467,000 after buying an additional 2,407 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AES shares. Jefferies Financial Group assumed coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Barclays lifted their target price on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.57.

AES Trading Down 9.7 %

AES stock opened at $14.71 on Friday. The AES Co. has a 52 week low of $14.68 and a 52 week high of $22.21. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97. The company’s 50-day simple moving average is $17.85 and its 200 day simple moving average is $18.27. The company has a market capitalization of $10.46 billion, a PE ratio of 10.22 and a beta of 1.07.

AES (NYSE:AES) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, sell-side analysts anticipate that The AES Co. will post 1.91 earnings per share for the current year.

AES Announces Dividend

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

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.