16,415 Shares in The AES Co. (NYSE:AES) Bought by Net Worth Advisory Group

Net Worth Advisory Group purchased a new stake in shares of The AES Co. (NYSE:AES) during the third quarter, Holdings Channel reports. The firm purchased 16,415 shares of the utilities provider’s stock, valued at approximately $329,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of AES by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after purchasing an additional 1,929,523 shares in the last quarter. Capital International Investors boosted its position in AES by 11.4% during the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock valued at $1,392,110,000 after buying an additional 7,969,594 shares during the period. M&G Plc purchased a new position in shares of AES in the first quarter worth about $123,272,000. Bank of New York Mellon Corp lifted its stake in shares of AES by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider’s stock valued at $83,805,000 after acquiring an additional 141,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in AES by 16.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,132,744 shares of the utilities provider’s stock valued at $55,084,000 after acquiring an additional 444,252 shares during the period. Institutional investors own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AES shares. Jefferies Financial Group started coverage on AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Barclays cut their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

AES Trading Up 1.3 %

NYSE:AES opened at $17.47 on Monday. The AES Co. has a 12 month low of $13.55 and a 12 month high of $22.21. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The company has a 50-day moving average price of $17.99 and a 200-day moving average price of $18.35. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 24.26 and a beta of 1.07.

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

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 3.95%. AES’s dividend payout ratio (DPR) is currently 95.83%.

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.