Community Trust & Investment Co. Has $3.57 Million Stock Position in The AES Co. (NYSE:AES)

Community Trust & Investment Co. lifted its stake in shares of The AES Co. (NYSE:AES) by 13.8% in the 3rd quarter, Holdings Channel reports. The fund owned 178,176 shares of the utilities provider’s stock after acquiring an additional 21,577 shares during the quarter. Community Trust & Investment Co.’s holdings in AES were worth $3,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in AES by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock worth $1,608,773,000 after purchasing an additional 1,929,523 shares during the period. Capital International Investors boosted its position in shares of AES by 11.4% during the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock worth $1,392,110,000 after buying an additional 7,969,594 shares during the period. M&G Plc bought a new position in shares of AES during the first quarter worth about $123,272,000. Bank of New York Mellon Corp raised its position in AES by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider’s stock valued at $83,805,000 after buying an additional 141,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in AES by 16.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,132,744 shares of the utilities provider’s stock valued at $55,084,000 after acquiring an additional 444,252 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Stock Down 1.2 %

AES opened at $17.00 on Wednesday. The stock’s fifty day simple moving average is $18.00 and its 200 day simple moving average is $18.34. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The stock has a market cap of $12.08 billion, a PE ratio of 23.61 and a beta of 1.07. The AES Co. has a 1-year low of $13.55 and a 1-year high of $22.21.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the prior year, the firm earned $0.21 EPS. The business’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts expect that The AES Co. will post 1.9 earnings per share for the current year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 4.06%. The ex-dividend date is Friday, November 1st. AES’s payout ratio is 95.83%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group started coverage on AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

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.