TCW Group Inc. Reduces Stock Position in The AES Co. (NYSE:AES)

TCW Group Inc. trimmed its stake in shares of The AES Co. (NYSE:AES) by 5.9% in the 3rd quarter, Holdings Channel reports. The firm owned 2,483,033 shares of the utilities provider’s stock after selling 156,661 shares during the period. TCW Group Inc.’s holdings in AES were worth $49,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in shares of AES during the 3rd quarter valued at about $204,000. Gould Capital LLC purchased a new position in shares of AES during the 3rd quarter worth $3,402,000. Geode Capital Management LLC grew its position in shares of AES by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 16,513,917 shares of the utilities provider’s stock valued at $330,125,000 after acquiring an additional 181,975 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of AES by 9.3% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 37,211 shares of the utilities provider’s stock worth $746,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in AES by 10.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 220,964 shares of the utilities provider’s stock worth $4,433,000 after purchasing an additional 20,545 shares during the period. Institutional investors own 93.13% of the company’s stock.

AES Trading Up 0.4 %

AES stock opened at $13.65 on Wednesday. The firm has a market cap of $9.71 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.68 and a beta of 1.02. The firm has a fifty day moving average price of $15.34 and a 200 day moving average price of $17.25. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The AES Co. has a fifty-two week low of $12.53 and a fifty-two week high of $22.21.

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

AES Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.176 dividend. This is a boost from AES’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.16%. AES’s payout ratio is 47.92%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group assumed coverage on AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Bank of America initiated 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. Mizuho reduced their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Barclays lifted their price objective on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AES presently has a consensus rating of “Moderate Buy” and a consensus 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.