Victory Capital Management Inc. Has $38.15 Million Stock Position in The AES Co. (NYSE:AES)

Victory Capital Management Inc. lessened its stake in shares of The AES Co. (NYSE:AES) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,901,857 shares of the utilities provider’s stock after selling 196,917 shares during the period. Victory Capital Management Inc.’s holdings in AES were worth $38,151,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of AES by 161.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 107,016 shares of the utilities provider’s stock valued at $2,035,000 after acquiring an additional 66,145 shares during the period. M&G PLC raised its stake in AES by 12.7% during the 3rd quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after purchasing an additional 732,457 shares during the period. Summit Global Investments purchased a new stake in shares of AES in the third quarter valued at $816,000. Lazard Asset Management LLC boosted its position in shares of AES by 178.5% in the first quarter. Lazard Asset Management LLC now owns 689,879 shares of the utilities provider’s stock worth $12,369,000 after buying an additional 442,184 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its position in AES by 75.9% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 362,651 shares of the utilities provider’s stock valued at $7,275,000 after buying an additional 156,504 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AES. Jefferies Financial Group started coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Barclays raised their price target on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Susquehanna lowered their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AES currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

AES Stock Down 0.2 %

AES stock opened at $13.97 on Friday. The company has a market capitalization of $9.93 billion, a P/E ratio of 9.70 and a beta of 1.10. The AES Co. has a 1-year low of $13.27 and a 1-year high of $22.21. The firm’s fifty day simple moving average is $17.25 and its 200-day simple moving average is $18.09. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) 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 company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. Sell-side analysts forecast that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is 47.92%.

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.