Rock Point Advisors LLC Has $15.26 Million Stock Position in The AES Co. (NYSE:AES)

Rock Point Advisors LLC increased its position in The AES Co. (NYSE:AES) by 34.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 760,775 shares of the utilities provider’s stock after buying an additional 195,460 shares during the quarter. AES accounts for approximately 4.2% of Rock Point Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Rock Point Advisors LLC owned approximately 0.11% of AES worth $15,261,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Rise Advisors LLC increased its stake in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares in the last quarter. Rothschild Investment LLC acquired a new position in AES during the 2nd quarter valued at about $28,000. UMB Bank n.a. increased its holdings in AES by 102.3% during 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 stake in shares of AES in the second quarter worth approximately $33,000. Finally, Cromwell Holdings LLC lifted its holdings in shares of AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AES. Bank of America began coverage on AES in a research report on Monday. They issued an “underperform” rating and a $11.00 price target for the company. Mizuho lowered their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Barclays lifted their target price 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 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.22.

AES Stock Performance

Shares of NYSE:AES traded down $0.18 during mid-day trading on Tuesday, reaching $12.98. The company had a trading volume of 425,333 shares, compared to its average volume of 8,926,752. The company’s 50-day moving average price is $16.85 and its 200-day moving average price is $17.89. The AES Co. has a one year low of $12.81 and a one year high of $22.21. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 9.14 and a beta of 1.10. 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 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. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The AES Co. will post 1.94 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is currently 47.92%.

AES 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.