Wetherby Asset Management Inc. bought a new stake in shares of AES Corp (NYSE:AES) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 10,693 shares of the utilities provider’s stock, valued at approximately $175,000.
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A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. LS Investment Advisors LLC grew its stake in AES by 6.8% during the third quarter. LS Investment Advisors LLC now owns 26,179 shares of the utilities provider’s stock valued at $428,000 after acquiring an additional 1,674 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of AES by 2.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 202,200 shares of the utilities provider’s stock worth $3,304,000 after buying an additional 4,613 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of AES by 48.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,709,186 shares of the utilities provider’s stock worth $27,928,000 after buying an additional 559,743 shares in the last quarter. Monarch Capital Management Inc. grew its stake in shares of AES by 11.3% in the 3rd quarter. Monarch Capital Management Inc. now owns 22,700 shares of the utilities provider’s stock worth $371,000 after buying an additional 2,300 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of AES by 9.3% in the 3rd quarter. CIBC Asset Management Inc now owns 81,708 shares of the utilities provider’s stock worth $1,335,000 after buying an additional 6,947 shares in the last quarter. 93.32% of the stock is owned by institutional investors.
In related news, SVP Julian Nebreda sold 18,864 shares of AES stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.24, for a total transaction of $287,487.36. Following the completion of the transaction, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $538,185.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey W. Ubben purchased 200,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.25 per share, with a total value of $3,050,000.00. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by insiders.
Shares of NYSE:AES traded up $0.07 on Friday, reaching $17.64. The company’s stock had a trading volume of 4,610,577 shares, compared to its average volume of 5,414,291. AES Corp has a 52-week low of $13.55 and a 52-week high of $18.52. The company has a market cap of $11.41 billion, a P/E ratio of 14.23, a PEG ratio of 1.51 and a beta of 1.05. The company has a 50-day simple moving average of $16.49 and a 200 day simple moving average of $16.39. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.24 and a current ratio of 1.36.
AES (NYSE:AES) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. AES had a net margin of 3.78% and a return on equity of 18.94%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company posted $0.35 EPS. The business’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that AES Corp will post 1.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.137 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.55 dividend on an annualized basis and a dividend yield of 3.11%. AES’s payout ratio is currently 44.35%.
A number of brokerages have commented on AES. Morgan Stanley lifted their price objective on shares of AES from $17.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Evercore ISI set a $19.00 price objective on shares of AES and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised shares of AES from a “c+” rating to a “b” rating in a research note on Wednesday. Finally, ValuEngine raised shares of AES from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. AES presently has an average rating of “Buy” and a consensus price target of $17.64.
AES Company Profile
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.
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