Portside Wealth Group LLC Boosts Position in The AES Co. (NYSE:AES)

Portside Wealth Group LLC increased its holdings in The AES Co. (NYSE:AES) by 10.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,367 shares of the utilities provider’s stock after acquiring an additional 5,160 shares during the quarter. Portside Wealth Group LLC’s holdings in AES were worth $1,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AES. Norden Group LLC boosted its stake in shares of AES by 80.3% during the 1st quarter. Norden Group LLC now owns 27,902 shares of the utilities provider’s stock valued at $500,000 after purchasing an additional 12,429 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in AES by 316.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,872 shares of the utilities provider’s stock valued at $5,843,000 after acquiring an additional 247,663 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of AES by 729.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 278,575 shares of the utilities provider’s stock worth $4,995,000 after acquiring an additional 244,973 shares during the period. Daiwa Securities Group Inc. raised its position in shares of AES by 7.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 65,459 shares of the utilities provider’s stock worth $1,174,000 after acquiring an additional 4,696 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of AES by 2.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 174,339 shares of the utilities provider’s stock valued at $3,126,000 after purchasing an additional 3,852 shares during the period. Institutional investors own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased 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. 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 price target for the company. Susquehanna dropped their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

AES Trading Down 3.8 %

AES stock opened at $13.66 on Friday. The AES Co. has a one year low of $13.62 and a one year high of $22.21. The business’s fifty day moving average is $17.62 and its 200 day moving average is $18.23. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The stock has a market capitalization of $9.71 billion, a PE ratio of 9.49 and a beta of 1.10.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.60 earnings per share. On average, sell-side analysts predict that The AES Co. will post 1.93 EPS for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.05%. AES’s dividend payout ratio (DPR) 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.