The AES Co. (NYSE:AES) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in The AES Co. (NYSE:AES) by 50.1% during the 3rd quarter, Holdings Channel reports. The firm owned 87,530 shares of the utilities provider’s stock after selling 87,995 shares during the quarter. Mutual of America Capital Management LLC’s holdings in AES were worth $1,756,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC raised 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 valued at $26,000 after purchasing an additional 720 shares during the last quarter. Rothschild Investment LLC purchased a new stake in AES during the 2nd quarter valued at about $28,000. UMB Bank n.a. raised its holdings in AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of AES during the 2nd quarter worth approximately $33,000. Finally, Cromwell Holdings LLC lifted its position in AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Down 1.6 %

AES stock opened at $13.04 on Monday. The firm has a market capitalization of $9.27 billion, a P/E ratio of 9.06 and a beta of 1.10. The stock’s fifty day simple moving average is $16.85 and its 200-day simple moving average is $17.89. The AES Co. has a twelve month low of $12.97 and a twelve month high of $22.21. 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 quarterly 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 analyst estimates of $3.46 billion. During the same quarter last year, the company earned $0.60 EPS. AES’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts expect that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Friday, November 1st. AES’s dividend payout ratio (DPR) is presently 47.92%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AES. Jefferies Financial Group started coverage on AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Barclays boosted their target price on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Susquehanna reduced their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Mizuho cut their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Two research 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.38.

About AES

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.