Wellington Shields Capital Management LLC Raises Position in The AES Co. (NYSE:AES)

Wellington Shields Capital Management LLC grew its position in shares of The AES Co. (NYSE:AES) by 68.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,275 shares of the utilities provider’s stock after buying an additional 18,400 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in AES were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AES. Russell Investments Group Ltd. lifted its holdings in shares of AES by 15.5% during the 4th quarter. Russell Investments Group Ltd. now owns 136,334 shares of the utilities provider’s stock valued at $2,625,000 after buying an additional 18,303 shares during the period. Natixis Advisors L.P. boosted its position in AES by 69.0% in the fourth quarter. Natixis Advisors L.P. now owns 146,387 shares of the utilities provider’s stock worth $2,817,000 after purchasing an additional 59,774 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of AES during the 4th quarter valued at about $215,000. Charles Schwab Investment Management Inc. increased its position in shares of AES by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,053,860 shares of the utilities provider’s stock valued at $116,537,000 after purchasing an additional 325,564 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of AES in the 4th quarter worth approximately $413,000. Institutional investors own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of analyst reports. Barclays cut their price objective on shares of AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Mizuho upped their price target on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Seaport Res Ptn cut AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

AES Trading Down 0.2 %

NYSE:AES traded down $0.03 during trading hours on Friday, hitting $16.91. The company had a trading volume of 596,149 shares, compared to its average volume of 7,955,244. The AES Co. has a 1 year low of $11.43 and a 1 year high of $22.21. The company has a market cap of $12.02 billion, a P/E ratio of 23.54 and a beta of 1.08. The company has a 50-day moving average of $17.37 and a 200 day moving average of $17.84. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63.

AES (NYSE:AES) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $3.22 billion. AES had a return on equity of 32.74% and a net margin of 6.07%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. Sell-side analysts expect that The AES Co. will post 1.91 earnings per share for the current year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.69 annualized dividend and a dividend yield of 4.08%. AES’s dividend payout ratio is presently 95.83%.

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.