New York State Teachers Retirement System Sells 2,165 Shares of The AES Co. (NYSE:AES)

New York State Teachers Retirement System lessened its stake in The AES Co. (NYSE:AES) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 722,601 shares of the utilities provider’s stock after selling 2,165 shares during the period. New York State Teachers Retirement System owned about 0.10% of AES worth $14,495,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its position in AES by 161.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock worth $2,035,000 after purchasing an additional 66,145 shares in the last quarter. Empowered Funds LLC raised its position in AES by 1.9% in the first quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock worth $2,237,000 after purchasing an additional 2,273 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of AES by 735.2% during the first quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock worth $11,070,000 after buying an additional 543,464 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of AES by 20.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock valued at $15,049,000 after acquiring an additional 140,610 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of AES by 178.5% in the first quarter. Lazard Asset Management LLC now owns 689,879 shares of the utilities provider’s stock valued at $12,369,000 after acquiring an additional 442,184 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Stock Performance

Shares of AES stock opened at $14.71 on Friday. The firm has a 50 day simple moving average of $17.85 and a 200 day simple moving average of $18.27. 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 AES Co. has a fifty-two week low of $14.68 and a fifty-two week high of $22.21. The firm has a market cap of $10.46 billion, a P/E ratio of 10.22 and a beta of 1.07.

AES (NYSE:AES) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. AES had a net margin of 6.07% and a return on equity of 32.74%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Sell-side analysts predict that The AES Co. will post 1.91 earnings per share for the current fiscal year.

AES Dividend Announcement

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 issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Friday, November 1st. AES’s dividend payout ratio is presently 47.92%.

Wall Street Analyst Weigh In

AES has been the subject of a number of research analyst reports. Jefferies Financial Group initiated 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. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Barclays lifted their target price on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One investment 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. According to MarketBeat, AES currently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

AES Company 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.