B. Riley Wealth Advisors Inc. Takes Position in The AES Co. (NYSE:AES)

B. Riley Wealth Advisors Inc. purchased a new position in The AES Co. (NYSE:AES) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,163 shares of the utilities provider’s stock, valued at approximately $179,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of AES by 2.4% during the 2nd quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock worth $477,000 after buying an additional 628 shares during the last quarter. Raymond James Trust N.A. raised its position 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 acquiring an additional 711 shares during the last quarter. Rise Advisors LLC grew its position in shares of 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 purchasing an additional 720 shares during the last quarter. Empirical Finance LLC increased its stake in shares of AES by 4.7% during the 1st quarter. Empirical Finance LLC now owns 18,185 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 823 shares in the last quarter. Finally, UMB Bank n.a. raised 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 worth $31,000 after purchasing an additional 898 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Down 2.0 %

AES opened at $17.34 on Friday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 24.08 and a beta of 1.07. The AES Co. has a 12 month low of $12.87 and a 12 month high of $22.21. 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 business has a 50-day moving average of $17.88 and a two-hundred day moving average of $18.34.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays lowered their target price on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AES presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.