Providence Capital Advisors LLC Has $6.09 Million Position in The AES Co. (NYSE:AES)

Providence Capital Advisors LLC increased its position in shares of The AES Co. (NYSE:AES) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 473,481 shares of the utilities provider’s stock after buying an additional 100,498 shares during the quarter. Providence Capital Advisors LLC owned about 0.07% of AES worth $6,094,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new stake in shares of AES in the third quarter valued at approximately $28,000. SRS Capital Advisors Inc. grew its stake in shares of AES by 190.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 1,581 shares during the last quarter. WR Wealth Planners LLC grew its holdings in shares of AES by 93.3% during the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,369 shares during the period. Brooklyn Investment Group purchased a new position in shares of AES during the third quarter valued at approximately $63,000. Finally, AlphaQuest LLC lifted its holdings in shares of AES by 18,047.1% during the fourth quarter. AlphaQuest LLC now owns 6,170 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 6,136 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $12.45 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $8.86 billion, a PE ratio of 8.64, a P/E/G ratio of 0.82 and a beta of 0.94. The AES Co. has a 52-week low of $9.88 and a 52-week high of $22.21. The stock’s 50 day moving average is $11.34 and its two-hundred day moving average is $13.88.

AES (NYSE:AES) last announced its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.07 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. During the same quarter in the previous year, the firm posted $0.73 EPS. Analysts predict that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend is Thursday, May 1st. AES’s dividend payout ratio is 29.54%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AES. HSBC assumed coverage on AES in a research report on Friday, December 13th. They set a “buy” rating and a $17.00 target price for the company. Bank of America upgraded shares of AES from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $11.00 to $13.00 in a research note on Tuesday, March 4th. Seaport Res Ptn cut AES from a “hold” rating to a “strong sell” rating in a research report on Monday, March 3rd. Mizuho dropped their price objective on shares of AES from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, Barclays decreased their price objective on shares of AES from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.63.

About AES

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.