Intact Investment Management Inc. Sells 4,660 Shares of The AES Co. (NYSE:AES)

Intact Investment Management Inc. reduced its holdings in The AES Co. (NYSE:AES) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 366,350 shares of the utilities provider’s stock after selling 4,660 shares during the period. Intact Investment Management Inc. owned 0.05% of AES worth $7,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AES. DekaBank Deutsche Girozentrale raised its holdings in AES by 161.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock worth $2,035,000 after acquiring an additional 66,145 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of AES by 1.9% in the 1st quarter. Empowered Funds LLC now owns 124,745 shares of the utilities provider’s stock valued at $2,237,000 after buying an additional 2,273 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of AES by 735.2% in the first quarter. SG Americas Securities LLC now owns 617,387 shares of the utilities provider’s stock valued at $11,070,000 after buying an additional 543,464 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AES by 20.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 839,343 shares of the utilities provider’s stock worth $15,049,000 after buying an additional 140,610 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in AES by 178.5% during the first quarter. Lazard Asset Management LLC now owns 689,879 shares of the utilities provider’s stock worth $12,369,000 after acquiring an additional 442,184 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

AES Trading Up 2.0 %

Shares of NYSE:AES opened at $15.00 on Monday. The stock has a market cap of $10.66 billion, a PE ratio of 10.22 and a beta of 1.10. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63. The AES Co. has a 12-month low of $14.68 and a 12-month high of $22.21. The business has a 50 day moving average of $17.85 and a 200-day moving average of $18.29.

AES (NYSE:AES) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a return on equity of 28.95% and a net margin of 8.34%. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities research analysts forecast that The AES Co. will post 1.91 earnings per share for the current year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.1725 per share. The ex-dividend date is Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.60%. AES’s dividend payout ratio is presently 47.92%.

Analyst Ratings Changes

Several research firms have recently weighed in on AES. Barclays boosted their price objective on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group assumed 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 analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.57.

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.