Hohimer Wealth Management LLC Sells 4,108 Shares of The AES Co. (NYSE:AES)

Hohimer Wealth Management LLC reduced its position in shares of The AES Co. (NYSE:AES) by 8.5% during the third quarter, Holdings Channel reports. The institutional investor owned 43,943 shares of the utilities provider’s stock after selling 4,108 shares during the period. Hohimer Wealth Management LLC’s holdings in AES were worth $881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AES. Millburn Ridgefield Corp acquired a new position in shares of AES during the third quarter worth approximately $28,000. Rothschild Investment LLC bought a new stake in AES during the 2nd quarter valued at $28,000. Cromwell Holdings LLC raised its holdings in AES by 59.1% during the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of AES during the second quarter worth about $33,000. Institutional investors own 93.13% of the company’s stock.

AES Stock Up 0.4 %

AES stock opened at $13.65 on Wednesday. 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 $9.71 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.68 and a beta of 1.02. The firm has a 50 day moving average price of $15.34 and a 200-day moving average price of $17.25. The AES Co. has a twelve month low of $12.53 and a twelve month high of $22.21.

AES (NYSE:AES) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. As a group, equities analysts predict that The AES Co. will post 1.95 EPS for the current year.

AES Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.176 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.70 annualized dividend and a dividend yield of 5.16%. This is a positive change from AES’s previous quarterly dividend of $0.17. AES’s payout ratio is 47.92%.

Analyst Ratings Changes

AES has been the subject of a number of analyst reports. Mizuho cut their price target on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Bank of America began coverage on AES in a report on Monday, November 25th. They set an “underperform” rating and a $11.00 price target for the company. Barclays raised their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note 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 dropped their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.22.

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.