Waldron Private Wealth LLC Invests $325,000 in The AES Co. (NYSE:AES)

Waldron Private Wealth LLC bought a new stake in shares of The AES Co. (NYSE:AES) in the 3rd quarter, Holdings Channel.com reports. The firm bought 16,192 shares of the utilities provider’s stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. increased its stake in shares of AES by 0.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 279,670 shares of the utilities provider’s stock worth $5,607,000 after purchasing an additional 2,369 shares in the last quarter. Whittier Trust Co. raised its stake in shares of AES by 1.2% in the third quarter. Whittier Trust Co. now owns 646,208 shares of the utilities provider’s stock worth $12,956,000 after buying an additional 7,734 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of AES by 594.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 271,423 shares of the utilities provider’s stock valued at $5,445,000 after buying an additional 232,355 shares in the last quarter. New Century Financial Group LLC grew its stake in shares of AES by 3.2% during the 3rd quarter. New Century Financial Group LLC now owns 69,831 shares of the utilities provider’s stock valued at $1,401,000 after acquiring an additional 2,160 shares during the period. Finally, Schubert & Co purchased a new stake in AES in the 3rd quarter worth approximately $390,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Trading Up 0.5 %

Shares of AES stock opened at $17.08 on Thursday. The stock’s 50-day moving average price is $18.00 and its 200-day moving average price is $18.33. The AES Co. has a 12-month low of $14.15 and a 12-month high of $22.21. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 23.72 and a beta of 1.07. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

AES (NYSE:AES) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts predict 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 will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.1725 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.04%. AES’s dividend payout ratio (DPR) is presently 95.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AES has a consensus rating of “Moderate Buy” and an average price target 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.