The AES Co. (NYSE:AES) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of The AES Co. (NYSE:AES) by 33.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271,090 shares of the utilities provider’s stock after selling 133,458 shares during the period. Intech Investment Management LLC’s holdings in AES were worth $5,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. grew its stake in shares of AES by 25.1% in the first quarter. Sei Investments Co. now owns 62,296 shares of the utilities provider’s stock valued at $1,117,000 after buying an additional 12,510 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in AES in the 1st quarter worth $189,000. Bessemer Group Inc. grew its stake in shares of AES by 28.1% during the first quarter. Bessemer Group Inc. now owns 10,452 shares of the utilities provider’s stock valued at $188,000 after acquiring an additional 2,290 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of AES by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 205,127 shares of the utilities provider’s stock worth $3,679,000 after acquiring an additional 1,003 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in AES by 146.3% in the first quarter. EntryPoint Capital LLC now owns 3,468 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 2,060 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AES shares. Susquehanna cut their target price on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Mizuho cut their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AES presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.

AES Stock Down 1.6 %

NYSE:AES opened at $13.04 on Friday. The AES Co. has a 52 week low of $12.97 and a 52 week high of $22.21. The firm has a market capitalization of $9.27 billion, a PE ratio of 9.06 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock has a 50 day moving average of $16.96 and a 200-day moving average of $17.95.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that The AES Co. will post 1.93 EPS for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid 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 5.29%. AES’s payout ratio is currently 47.92%.

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.