Atria Investments Inc Buys 42,707 Shares of The AES Co. (NYSE:AES)

Atria Investments Inc lifted its holdings in The AES Co. (NYSE:AES) by 97.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,553 shares of the utilities provider’s stock after buying an additional 42,707 shares during the quarter. Atria Investments Inc’s holdings in AES were worth $1,736,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Kerusso Capital Management LLC raised its holdings in shares of AES by 6.4% in the third quarter. Kerusso Capital Management LLC now owns 154,878 shares of the utilities provider’s stock valued at $3,107,000 after buying an additional 9,280 shares during the last quarter. Cowa LLC bought a new position in shares of AES in the third quarter valued at about $397,000. Assetmark Inc. raised its holdings in shares of AES by 9.5% in the third quarter. Assetmark Inc. now owns 147,861 shares of the utilities provider’s stock valued at $2,966,000 after buying an additional 12,841 shares during the last quarter. Corrado Advisors LLC raised its holdings in shares of AES by 26.1% in the third quarter. Corrado Advisors LLC now owns 72,170 shares of the utilities provider’s stock valued at $1,448,000 after buying an additional 14,960 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of AES in the third quarter valued at about $347,000. 93.13% of the stock is owned by institutional investors.

AES Price Performance

AES stock opened at $13.97 on Friday. The firm has a market capitalization of $9.93 billion, a P/E ratio of 9.70 and a beta of 1.10. The AES Co. has a 1 year low of $13.27 and a 1 year high of $22.21. The business has a 50-day moving average of $17.25 and a 200-day moving average of $18.08. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company earned $0.60 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts anticipate that The AES Co. will post 1.93 EPS for the current year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.1725 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.94%. AES’s dividend payout ratio is presently 47.92%.

Analyst Ratings Changes

A number of analysts recently commented on AES shares. Susquehanna lowered their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Barclays lifted their price objective on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, 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. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

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.