B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of The AES Co. (NYSE:AES - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 128,279 shares of the utilities provider's stock, valued at approximately $2,573,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Zurich Insurance Group Ltd FI purchased a new stake in AES in the 2nd quarter valued at about $30,746,000. Zimmer Partners LP increased its position in AES by 482.8% during the first quarter. Zimmer Partners LP now owns 1,865,000 shares of the utilities provider's stock worth $33,439,000 after purchasing an additional 1,545,000 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AES by 169.5% in the 3rd 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. Hsbc Holdings PLC grew its stake in shares of AES by 41.1% during the 2nd quarter. Hsbc Holdings PLC now owns 2,898,119 shares of the utilities provider's stock valued at $51,293,000 after buying an additional 844,888 shares during the period. Finally, TCW Group Inc. raised its position in shares of AES by 45.8% in the 2nd quarter. TCW Group Inc. now owns 2,639,694 shares of the utilities provider's stock worth $46,379,000 after buying an additional 828,840 shares during the period. Hedge funds and other institutional investors own 93.13% of the company's stock.
Several equities research analysts have commented on AES shares. Evercore ISI upgraded AES to a "strong-buy" rating in a research note on Wednesday, September 18th. Jefferies Financial Group started coverage on shares of AES in a research report on Wednesday, September 11th. They set a "buy" rating and a $20.00 price target on the stock. Mizuho cut their target price on shares of AES from $24.00 to $16.00 and set an "outperform" rating on the stock in a research note on Thursday. Susquehanna lowered their price target on AES from $24.00 to $21.00 and set a "positive" rating for the company in a report on Tuesday, November 5th. Finally, Barclays upped their target price on AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $21.38.
Get Our Latest Report on AES
Shares of AES opened at $13.24 on Friday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The AES Co. has a one year low of $13.04 and a one year high of $22.21. The stock has a 50-day moving average price of $16.96 and a 200 day moving average price of $17.95. The company has a market capitalization of $9.41 billion, a P/E ratio of 9.19 and a beta of 1.10.
AES (NYSE:AES - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. The firm had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Sell-side analysts forecast that The AES Co. will post 1.93 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, November 1st. AES's dividend payout ratio is currently 47.92%.
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.
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