The AES Co. (NYSE:AES) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its position in shares of The AES Co. (NYSE:AES) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 125,983 shares of the utilities provider’s stock after selling 1,886 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AES were worth $2,527,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC grew its holdings in AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 640 shares during the period. Mount Yale Investment Advisors LLC grew its stake in shares of AES by 4.0% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 271,500 shares of the utilities provider’s stock worth $5,446,000 after purchasing an additional 10,440 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in shares of AES by 7.4% in the 3rd quarter. Spirit of America Management Corp NY now owns 29,000 shares of the utilities provider’s stock worth $582,000 after purchasing an additional 2,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in AES by 169.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock worth $43,002,000 after buying an additional 1,348,195 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in AES in the third quarter worth approximately $2,803,000. Institutional investors own 93.13% of the company’s stock.

AES Trading Down 9.7 %

Shares of NYSE AES opened at $14.71 on Friday. 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 AES Co. has a one year low of $14.68 and a one year high of $22.21. The business has a 50-day moving average price of $17.85 and a two-hundred day moving average price of $18.27. The firm has a market capitalization of $10.46 billion, a PE ratio of 10.22 and a beta of 1.07.

AES (NYSE:AES) last posted its quarterly 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. AES had a net margin of 6.07% and a return on equity of 32.74%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, analysts predict that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a yield of 4.69%. AES’s payout ratio is 47.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AES. Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Barclays increased 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 initiated coverage on AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. One research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

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.