Rock Point Advisors LLC Grows Stock Position in The AES Co. (NYSE:AES)

Rock Point Advisors LLC boosted its stake in The AES Co. (NYSE:AES) by 34.6% in the 3rd quarter, Holdings Channel reports. The firm owned 760,775 shares of the utilities provider’s stock after acquiring an additional 195,460 shares during the quarter. AES accounts for approximately 4.2% of Rock Point Advisors LLC’s portfolio, making the stock its 2nd largest position. Rock Point Advisors LLC’s holdings in AES were worth $15,261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rise Advisors LLC boosted its position in shares of AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 720 shares during the period. Rothschild Investment LLC purchased a new position in shares of AES during the 2nd quarter valued at $28,000. UMB Bank n.a. increased its stake in AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 898 shares during the last quarter. nVerses Capital LLC bought a new stake in AES during the second quarter valued at approximately $33,000. Finally, Cromwell Holdings LLC lifted its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America initiated coverage on shares of AES in a research report on Monday. They set an “underperform” rating and a $11.00 price target on the stock. Barclays boosted their target price on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Mizuho decreased their price target on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on shares of AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.22.

AES Trading Down 1.4 %

AES traded down $0.18 on Tuesday, reaching $12.98. 425,333 shares of the company traded hands, compared to its average volume of 8,926,752. The AES Co. has a one year low of $12.81 and a one year high of $22.21. The company has a market cap of $9.23 billion, a P/E ratio of 9.14 and a beta of 1.10. The firm has a fifty day simple moving average of $16.85 and a two-hundred day simple moving average of $17.89. 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 data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities research analysts expect that The AES Co. will post 1.94 earnings per share for the current year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.1725 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.32%. AES’s payout ratio is 47.92%.

AES Company 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.