Portside Wealth Group LLC Boosts Holdings in The AES Co. (NYSE:AES)

Portside Wealth Group LLC raised its holdings in shares of The AES Co. (NYSE:AES) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,367 shares of the utilities provider’s stock after buying an additional 5,160 shares during the period. Portside Wealth Group LLC’s holdings in AES were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AES. Vanguard Group Inc. raised its holdings in AES by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock worth $1,608,773,000 after purchasing an additional 1,929,523 shares during the period. Capital International Investors raised its stake in shares of AES by 11.4% in the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock worth $1,392,110,000 after buying an additional 7,969,594 shares during the period. M&G Plc purchased a new position in shares of AES during the 1st quarter valued at about $123,272,000. M&G PLC grew 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 period. Finally, Bank of New York Mellon Corp increased its holdings in AES by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider’s stock worth $83,805,000 after acquiring an additional 141,565 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors.

AES Trading Down 3.8 %

Shares of AES stock opened at $13.66 on Friday. The stock’s 50-day moving average price is $17.62 and its 200-day moving average price is $18.23. The AES Co. has a 12-month low of $13.62 and a 12-month high of $22.21. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 9.49 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that The AES Co. will post 1.93 EPS for the current fiscal year.

AES Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.05%. AES’s payout ratio is currently 47.92%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AES. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Susquehanna cut their target price on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

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.