Coastwise Capital Group LLC Acquires Shares of 11,329 The AES Co. (NYSE:AES)

Coastwise Capital Group LLC bought a new stake in shares of The AES Co. (NYSE:AES) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,329 shares of the utilities provider’s stock, valued at approximately $146,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cromwell Holdings LLC raised its holdings in shares of AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after buying an additional 640 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in AES by 3.2% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 26,301 shares of the utilities provider’s stock valued at $528,000 after acquiring an additional 826 shares during the period. Empowered Funds LLC raised its stake in AES by 8.0% during the 3rd quarter. Empowered Funds LLC now owns 11,179 shares of the utilities provider’s stock valued at $224,000 after acquiring an additional 830 shares during the last quarter. OLD Second National Bank of Aurora lifted its position in AES by 1.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 84,624 shares of the utilities provider’s stock worth $1,698,000 after acquiring an additional 835 shares during the period. Finally, Live Oak Investment Partners increased its holdings in shares of AES by 3.9% in the third quarter. Live Oak Investment Partners now owns 29,241 shares of the utilities provider’s stock valued at $587,000 after purchasing an additional 1,104 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Trading Up 1.1 %

Shares of AES stock opened at $11.28 on Friday. The firm has a market cap of $8.02 billion, a PE ratio of 7.83, a P/E/G ratio of 0.86 and a beta of 1.00. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The AES Co. has a fifty-two week low of $10.81 and a fifty-two week high of $22.21. The business’s fifty day moving average is $12.59 and its two-hundred day moving average is $15.51.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Analysts anticipate that The AES Co. will post 1.93 earnings per share for the current year.

AES Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.176 per share. This is an increase from AES’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, January 31st. AES’s payout ratio is currently 47.92%.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of analyst reports. Mizuho decreased their price target on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a research note 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 report on Friday, December 13th. They set a “buy” rating and a $17.00 price objective for the company. Bank of America initiated coverage on AES in a research report on Monday, November 25th. They issued an “underperform” rating and a $11.00 price target for the company. Finally, Susquehanna decreased their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

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.