Wallace Advisory Group LLC Acquires 2,904 Shares of The AES Co. (NYSE:AES)

Wallace Advisory Group LLC lifted its holdings in shares of The AES Co. (NYSE:AES) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,001 shares of the utilities provider’s stock after buying an additional 2,904 shares during the period. Wallace Advisory Group LLC’s holdings in AES were worth $404,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rise Advisors LLC boosted its holdings in shares of AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 720 shares during the last quarter. Rothschild Investment LLC bought a new stake in AES in the 2nd quarter worth approximately $28,000. UMB Bank n.a. lifted its holdings 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. Riverview Trust Co purchased a new position in shares of AES in the 1st quarter worth $33,000. Finally, nVerses Capital LLC bought a new stake in shares of AES in the second quarter worth $33,000. 93.13% of the stock is currently owned by institutional investors.

AES Price Performance

Shares of NYSE:AES opened at $20.07 on Monday. The company has a market capitalization of $14.26 billion, a P/E ratio of 27.88 and a beta of 1.07. The AES Co. has a 1-year low of $11.43 and a 1-year high of $22.21. The firm’s 50 day simple moving average is $17.64 and its two-hundred day simple moving average is $18.16. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91.

AES (NYSE:AES) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. AES’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Research analysts expect that The AES Co. will post 1.9 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, August 1st. AES’s dividend payout ratio (DPR) is presently 95.83%.

Analyst Upgrades and Downgrades

AES has been the topic of several research reports. Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Barclays reduced their target price on shares of AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.50.

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.