Deseret Mutual Benefit Administrators Sells 1,415 Shares of The AES Co. (NYSE:AES)

Deseret Mutual Benefit Administrators reduced its holdings in The AES Co. (NYSE:AES) by 35.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,596 shares of the utilities provider’s stock after selling 1,415 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in AES were worth $52,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AES. Rise Advisors LLC increased its position in shares of AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of AES during the 2nd quarter valued at about $28,000. UMB Bank n.a. increased its position in shares of AES by 102.3% during the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 898 shares during the last quarter. nVerses Capital LLC bought a new position in shares of AES during the 2nd quarter valued at about $33,000. Finally, Cromwell Holdings LLC increased its position in shares of AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AES. Jefferies Financial Group began coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Susquehanna reduced their price target on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday. Barclays raised their price target on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Evercore ISI upgraded AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AES Trading Down 3.8 %

NYSE AES opened at $13.66 on Friday. The AES Co. has a fifty-two week low of $13.62 and a fifty-two week high of $22.21. 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 stock has a 50 day simple moving average of $17.62 and a two-hundred day simple moving average of $18.23. The stock has a market cap of $9.71 billion, a P/E ratio of 9.49 and a beta of 1.10.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the business posted $0.60 EPS. The business’s revenue was down 4.2% on a year-over-year basis. On average, analysts forecast that The AES Co. will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Friday, November 1st. AES’s dividend payout ratio (DPR) is currently 47.92%.

AES 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.