Dorsey Wright & Associates Purchases New Position in AES Corp (AES)

Dorsey Wright & Associates purchased a new stake in AES Corp (NYSE:AES) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 140,334 shares of the utilities provider’s stock, valued at approximately $1,965,000.

A number of other institutional investors also recently modified their holdings of AES. Bank of Montreal Can lifted its stake in AES by 292.9% in the 3rd quarter. Bank of Montreal Can now owns 16,000,507 shares of the utilities provider’s stock valued at $224,007,000 after buying an additional 11,927,913 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in AES by 1,298.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 3,615,242 shares of the utilities provider’s stock worth $48,481,000 after purchasing an additional 3,356,756 shares in the last quarter. WBI Investments Inc. purchased a new position in AES in the 2nd quarter worth approximately $40,420,000. Bank of America Corp DE lifted its stake in AES by 56.6% in the 2nd quarter. Bank of America Corp DE now owns 7,987,170 shares of the utilities provider’s stock worth $107,107,000 after purchasing an additional 2,887,388 shares in the last quarter. Finally, Hexavest Inc. purchased a new position in AES in the 2nd quarter worth approximately $36,387,000. 96.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on AES. ValuEngine raised shares of AES from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research raised shares of AES from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday. Morgan Stanley raised their target price on shares of AES from $13.50 to $14.00 and gave the stock a “hold” rating in a research note on Friday, September 21st. UBS Group raised their target price on shares of AES from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 20th. Finally, Bank of America lowered shares of AES from a “neutral” rating to an “underperform” rating and set a $12.50 target price on the stock. in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.

AES opened at $14.65 on Friday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 1.18 and a current ratio of 1.32. AES Corp has a 1-year low of $9.86 and a 1-year high of $15.11. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20.

AES (NYSE:AES) last announced its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $3.41 billion. AES had a positive return on equity of 19.26% and a negative net margin of 1.87%. Sell-side analysts forecast that AES Corp will post 1.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.55%. AES’s dividend payout ratio is currently 48.15%.

AES Company Profile

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.

Further Reading: Diversification For Individual Investors

Institutional Ownership by Quarter for AES (NYSE:AES)

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