The AES Co. (NYSE:AES) Shares Acquired by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC grew its position in shares of The AES Co. (NYSE:AES) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,118 shares of the utilities provider’s stock after acquiring an additional 14,010 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in AES were worth $3,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AES. Rise Advisors LLC lifted its position in AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of AES in the second quarter worth about $28,000. UMB Bank n.a. grew its stake in shares of AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of AES during the 2nd quarter valued at about $33,000. Finally, Cromwell Holdings LLC lifted its position in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 640 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AES has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Barclays lifted their price target on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.57.

AES Stock Performance

Shares of AES stock opened at $16.96 on Friday. The firm has a market cap of $12.05 billion, a PE ratio of 23.56 and a beta of 1.07. The AES Co. has a 1 year low of $14.53 and a 1 year high of $22.21. The firm’s 50-day simple moving average is $17.99 and its 200-day simple moving average is $18.31. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 0.97.

AES (NYSE:AES) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter last year, the business posted $0.21 EPS. AES’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts forecast that The AES Co. will post 1.9 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 1st. AES’s dividend payout ratio (DPR) is presently 95.83%.

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.