17,289 Shares in The AES Co. (NYSE:AES) Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC acquired a new position in The AES Co. (NYSE:AES) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,289 shares of the utilities provider’s stock, valued at approximately $347,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its stake in AES by 92.4% in the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 720 shares during the period. Rothschild Investment LLC acquired a new position in AES in the 2nd quarter worth approximately $28,000. Cromwell Holdings LLC boosted its stake in shares of AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after buying an additional 640 shares during the period. UMB Bank n.a. boosted its stake 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 valued at $31,000 after buying an additional 898 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of AES during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

AES has been the subject of a number of research reports. Susquehanna decreased their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. 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. Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, 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 price objective for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AES presently has an average rating of “Moderate Buy” and an average price target of $22.38.

AES Stock Performance

NYSE AES opened at $13.46 on Wednesday. The stock has a market cap of $9.57 billion, a P/E ratio of 9.35 and a beta of 1.10. The company’s 50-day simple moving average is $17.42 and its 200 day simple moving average is $18.17. The AES Co. has a twelve month low of $13.27 and a twelve month high of $22.21. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, research analysts forecast that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 5.13%. AES’s payout ratio is 47.92%.

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.