37,000 Shares in The AES Co. (NYSE:AES) Acquired by Penn Mutual Asset Management

by · The Markets Daily

Penn Mutual Asset Management acquired a new position in The AES Co. (NYSE:AES – Free Report) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 37,000 shares of the utilities provider’s stock, valued at approximately $742,000. AES makes up about 1.5% of Penn Mutual Asset Management’s investment portfolio, making the stock its 14th largest position.

Several other large investors have also modified their holdings of the company. Cetera Advisors LLC raised its stake in AES by 77.8% during the 1st quarter. Cetera Advisors LLC now owns 18,045 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 7,897 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in AES by 6.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 40,871 shares of the utilities provider’s stock worth $699,000 after purchasing an additional 2,327 shares during the period. Mather Group LLC. boosted its holdings in AES by 45.1% during the second quarter. Mather Group LLC. now owns 6,001 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 1,864 shares in the last quarter. CWM LLC raised its holdings in shares of AES by 2.4% in the 2nd quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock worth $477,000 after buying an additional 628 shares in the last quarter. Finally, Simplicity Wealth LLC grew its position in AES by 23.1% in the second quarter. Simplicity Wealth LLC now owns 225,000 shares of the utilities provider’s stock valued at $3,953,000 after acquiring an additional 42,177 shares during the period. 93.13% of the stock is owned by institutional investors.

AES Stock Up 0.3 %

AES stock opened at $13.05 on Wednesday. The business has a 50-day moving average of $15.99 and a 200-day moving average of $17.52. 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 $9.28 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.68 and a beta of 1.01. The AES Co. has a fifty-two week low of $12.53 and a fifty-two week high of $22.21.

AES (NYSE:AES – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that The AES Co. will post 1.95 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is 47.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Susquehanna dropped their price target on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Mizuho lowered their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Bank of America began coverage on AES in a report on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.22.

Get Our Latest Report on AES

AES Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding AES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The AES Co. (NYSE:AES – Free Report).