Gamco Investors INC. ET AL Has $10.11 Million Holdings in The AES Co. (NYSE:AES)

Gamco Investors INC. ET AL grew its stake in The AES Co. (NYSE:AES) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 563,700 shares of the utilities provider’s stock after buying an additional 7,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in AES were worth $10,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in AES during the first quarter worth $33,000. Glassman Wealth Services boosted its holdings in AES by 186.1% during the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,254 shares during the last quarter. Private Trust Co. NA boosted its holdings in AES by 68.8% during the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,088 shares during the last quarter. Principal Securities Inc. acquired a new position in AES during the fourth quarter worth $57,000. Finally, Allworth Financial LP boosted its holdings in AES by 133.7% during the fourth quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 1,779 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Price Performance

Shares of AES traded up $0.29 during mid-day trading on Friday, reaching $17.52. The company had a trading volume of 5,224,716 shares, compared to its average volume of 7,963,987. The company’s 50 day simple moving average is $19.12 and its 200 day simple moving average is $17.84. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 24.32 and a beta of 1.08. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. The AES Co. has a 1-year low of $11.43 and a 1-year high of $22.21.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. AES had a net margin of 4.40% and a return on equity of 36.23%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the firm posted $0.22 EPS. AES’s revenue was down 4.8% compared to the same quarter last year. Analysts expect that The AES Co. will post 1.91 EPS for the current year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 3.94%. The ex-dividend date is Thursday, August 1st. AES’s payout ratio is currently 95.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group reduced their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Barclays dropped their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Seaport Res Ptn lowered shares of AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. Finally, Mizuho increased their price objective on shares of AES from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.75.

About AES

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.