Gilman Hill Asset Management LLC Grows Position in The AES Co. (NYSE:AES)

Gilman Hill Asset Management LLC increased its position in shares of The AES Co. (NYSE:AES) by 80.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,350 shares of the utilities provider’s stock after purchasing an additional 8,600 shares during the period. Gilman Hill Asset Management LLC’s holdings in AES were worth $388,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in AES by 946.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 19,605 shares of the utilities provider’s stock valued at $393,000 after buying an additional 17,732 shares in the last quarter. Fiduciary Financial Group LLC lifted its holdings in AES by 32.1% during the 3rd quarter. Fiduciary Financial Group LLC now owns 17,859 shares of the utilities provider’s stock valued at $358,000 after buying an additional 4,335 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in AES during the 3rd quarter valued at about $74,000. Contravisory Investment Management Inc. bought a new stake in AES during the 3rd quarter valued at about $494,000. Finally, A. D. Beadell Investment Counsel Inc. lifted its holdings in AES by 80.4% during the 3rd quarter. A. D. Beadell Investment Counsel Inc. now owns 168,850 shares of the utilities provider’s stock valued at $3,387,000 after buying an additional 75,275 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of AES in a report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price objective for the company. Barclays reduced their price target on shares of AES from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Evercore ISI upgraded shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.43.

AES Stock Down 0.1 %

Shares of AES stock opened at $17.32 on Monday. The firm’s 50 day moving average price is $17.89 and its 200-day moving average price is $18.37. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63. The AES Co. has a 52-week low of $12.87 and a 52-week high of $22.21. The company has a market cap of $12.31 billion, a P/E ratio of 24.06 and a beta of 1.07.

AES (NYSE:AES) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.22 billion. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts predict that The AES Co. will post 1.9 EPS for the current fiscal year.

AES Dividend Announcement

The business also recently announced 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 3.98%. AES’s dividend payout ratio is presently 95.83%.

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.