The AES Co. (NYSE:AES) Shares Acquired by Merewether Investment Management LP

Merewether Investment Management LP lifted its position in The AES Co. (NYSE:AES) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 951,100 shares of the utilities provider’s stock after acquiring an additional 2,000 shares during the period. Merewether Investment Management LP owned 0.13% of AES worth $19,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AES. Rothschild Investment LLC acquired a new stake in AES during the 2nd quarter valued at approximately $28,000. Millburn Ridgefield Corp acquired a new position in AES in the third quarter valued at approximately $28,000. UMB Bank n.a. boosted its position in AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of AES during the 2nd quarter valued at approximately $33,000. Finally, Cromwell Holdings LLC boosted its holdings in AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $13.05 on Wednesday. The company has a fifty day simple moving average of $15.99 and a 200-day simple moving average of $17.52. The stock has a market cap of $9.28 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01. The AES Co. has a 12-month low of $12.53 and a 12-month high of $22.21. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. Equities analysts expect that The AES Co. will post 1.95 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.29%. AES’s dividend payout ratio (DPR) is presently 47.92%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AES. Barclays raised their target price on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Bank of America began coverage on shares of AES in a research note on Monday, November 25th. They set an “underperform” rating and a $11.00 target price on the stock. Susquehanna reduced their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.22.

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.