Oppenheimer & Co. Inc. Has $2.63 Million Stock Position in The AES Co. (NYSE:AES)

Oppenheimer & Co. Inc. lowered its stake in shares of The AES Co. (NYSE:AES) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,069 shares of the utilities provider’s stock after selling 1,620 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in AES were worth $2,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors increased its position in AES by 11.4% in the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock worth $1,392,110,000 after buying an additional 7,969,594 shares during the last quarter. Vanguard Group Inc. grew its holdings in AES by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after buying an additional 1,929,523 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in AES in the 2nd quarter worth approximately $30,746,000. Zimmer Partners LP raised its position in shares of AES by 482.8% in the first quarter. Zimmer Partners LP now owns 1,865,000 shares of the utilities provider’s stock worth $33,439,000 after buying an additional 1,545,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of AES by 169.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock valued at $43,002,000 after acquiring an additional 1,348,195 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AES. Barclays upped their price objective on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Susquehanna lowered their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

AES Price Performance

AES opened at $13.97 on Friday. The firm has a market cap of $9.93 billion, a PE ratio of 9.70 and a beta of 1.10. The stock has a 50-day moving average price of $17.25 and a 200-day moving average price of $18.09. The AES Co. has a 1 year low of $13.27 and a 1 year high of $22.21. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. Sell-side analysts predict that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The business 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 4.94%. The ex-dividend date was Friday, November 1st. AES’s dividend 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.