Lombard Odier Asset Management USA Corp Purchases New Stake in The AES Co. (NYSE:AES)

Lombard Odier Asset Management USA Corp purchased a new stake in The AES Co. (NYSE:AES) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 50,595 shares of the utilities provider’s stock, valued at approximately $889,000.

Several other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC lifted its stake in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares during the period. Rothschild Investment LLC acquired a new position in AES in the second quarter valued at about $28,000. UMB Bank n.a. lifted its stake in AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares during the period. Riverview Trust Co acquired a new position in AES in the first quarter valued at about $33,000. Finally, nVerses Capital LLC acquired a new position in AES in the second quarter valued at about $33,000. Institutional investors own 93.13% of the company’s stock.

AES Price Performance

Shares of AES stock opened at $18.90 on Monday. The business’s 50 day simple moving average is $17.40 and its 200 day simple moving average is $18.04. The AES Co. has a 52-week low of $11.43 and a 52-week high of $22.21. The firm has a market cap of $13.43 billion, a PE ratio of 26.25 and a beta of 1.07. 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 results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $2.94 billion during 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 was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, analysts predict that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.1725 dividend. The ex-dividend date 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 95.83%.

Wall Street Analyst Weigh In

AES has been the topic of several analyst reports. Barclays cut their target price on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. 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. Finally, Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AES currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

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.