Merewether Investment Management LP Grows Stock Position in The AES Co. (NYSE:AES)

Merewether Investment Management LP boosted its position in The AES Co. (NYSE:AES) by 0.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 951,100 shares of the utilities provider’s stock after buying an additional 2,000 shares during the period. Merewether Investment Management LP’s holdings in AES were worth $19,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its position in AES by 161.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock valued at $2,035,000 after purchasing an additional 66,145 shares during the period. Rock Point Advisors LLC grew its holdings in AES by 34.6% during the third quarter. Rock Point Advisors LLC now owns 760,775 shares of the utilities provider’s stock worth $15,261,000 after acquiring an additional 195,460 shares during the period. M&G PLC raised its position in AES by 12.7% in the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock worth $130,235,000 after acquiring an additional 732,457 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in AES by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after acquiring an additional 82,956 shares during the period. Finally, Summit Global Investments purchased a new stake in shares of AES during the 3rd quarter worth $816,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AES. 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 target price for the company. Susquehanna lowered 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 price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Bank of America began coverage on shares of AES in a report on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective on the stock. Finally, Barclays upped their price target on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.22.

AES Price Performance

Shares of NYSE AES opened at $13.05 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The AES Co. has a fifty-two week low of $12.53 and a fifty-two week high of $22.21. The business has a 50 day moving average price of $15.99 and a two-hundred day moving average price of $17.52. The firm has a market cap of $9.28 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company earned $0.60 earnings per share. AES’s quarterly revenue was down 4.2% on a year-over-year basis. Sell-side analysts expect that The AES Co. will post 1.95 earnings per share for the current fiscal year.

AES Dividend Announcement

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

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.