Avaii Wealth Management LLC Acquires New Stake in The AES Co. (NYSE:AES)

Avaii Wealth Management LLC bought a new stake in The AES Co. (NYSE:AES) during the fourth quarter, HoldingsChannel.com reports. The fund bought 16,430 shares of the utilities provider’s stock, valued at approximately $211,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in AES by 18.2% in the 3rd quarter. State Street Corp now owns 38,651,752 shares of the utilities provider’s stock valued at $775,354,000 after acquiring an additional 5,960,546 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in AES by 169.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock valued at $43,002,000 after purchasing an additional 1,348,195 shares during the last quarter. Two Sigma Advisers LP lifted its position in AES by 30.3% during the third quarter. Two Sigma Advisers LP now owns 3,838,500 shares of the utilities provider’s stock worth $77,000,000 after buying an additional 892,500 shares during the period. Bridgewater Associates LP purchased a new stake in AES in the 3rd quarter valued at about $17,390,000. Finally, M&G PLC increased its stake in shares of AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after acquiring an additional 732,457 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Up 0.7 %

NYSE AES opened at $11.61 on Friday. The stock has a market cap of $8.25 billion, a PE ratio of 8.06, a P/E/G ratio of 0.56 and a beta of 1.00. The business has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $15.69. The AES Co. has a fifty-two week low of $11.08 and a fifty-two week high of $22.21. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21.

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

AES Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid 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 annualized dividend and a dividend yield of 6.06%. AES’s payout ratio is 48.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Susquehanna lowered their target price on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Mizuho dropped their price objective on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Hsbc Global Res upgraded AES to a “strong-buy” rating in a report on Friday, December 13th. HSBC began coverage on AES in a research note on Friday, December 13th. They set a “buy” rating and a $17.00 price target for the company. Finally, Barclays decreased their target price on AES from $23.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.30.

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.