Hohimer Wealth Management LLC Invests $844,000 in The AES Co. (NYSE:AES)

Hohimer Wealth Management LLC acquired a new position in The AES Co. (NYSE:AES) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,051 shares of the utilities provider’s stock, valued at approximately $844,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TD Asset Management Inc increased its stake in AES by 21.1% during the second quarter. TD Asset Management Inc now owns 216,518 shares of the utilities provider’s stock valued at $3,804,000 after acquiring an additional 37,684 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of AES by 6.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 61,032 shares of the utilities provider’s stock valued at $1,072,000 after purchasing an additional 3,810 shares during the period. Natixis Advisors LLC raised its stake in shares of AES by 21.5% in the second quarter. Natixis Advisors LLC now owns 66,742 shares of the utilities provider’s stock valued at $1,173,000 after purchasing an additional 11,828 shares in the last quarter. nVerses Capital LLC bought a new position in AES in the second quarter worth $33,000. Finally, Commonwealth Equity Services LLC increased its holdings in AES by 8.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 58,776 shares of the utilities provider’s stock valued at $1,033,000 after buying an additional 4,799 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Stock Performance

NYSE:AES opened at $16.95 on Friday. The stock has a market capitalization of $12.05 billion, a P/E ratio of 23.54 and a beta of 1.08. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The AES Co. has a 1 year low of $11.43 and a 1 year high of $22.21. The firm has a 50 day moving average of $17.37 and a 200-day moving average of $17.84.

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, beating 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 firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 4.07%. The ex-dividend date was Thursday, August 1st. AES’s payout ratio is presently 95.83%.

Analyst Ratings Changes

AES has been the subject of a number of analyst reports. Seaport Res Ptn downgraded shares of AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Mizuho lifted their price objective on AES from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Barclays dropped their target price on AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

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.