Cromwell Holdings LLC Grows Position in The AES Co. (NYSE:AES)

Cromwell Holdings LLC raised its stake in shares of The AES Co. (NYSE:AES) by 59.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,723 shares of the utilities provider’s stock after acquiring an additional 640 shares during the period. Cromwell Holdings LLC’s holdings in AES were worth $35,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors lifted its position in AES by 11.4% during the first quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock valued at $1,392,110,000 after purchasing an additional 7,969,594 shares during the period. M&G Plc purchased a new stake in AES during the 1st quarter valued at $123,272,000. Vanguard Group Inc. lifted its holdings in shares of AES by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock valued at $1,608,773,000 after buying an additional 1,929,523 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of AES in the second quarter worth $30,746,000. Finally, Zimmer Partners LP increased its position in AES by 482.8% during the first quarter. Zimmer Partners LP now owns 1,865,000 shares of the utilities provider’s stock valued at $33,439,000 after acquiring an additional 1,545,000 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Performance

Shares of NYSE AES opened at $16.96 on Friday. The stock has a market cap of $12.05 billion, a PE ratio of 23.56 and a beta of 1.07. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.97 and a quick ratio of 0.91. The firm has a fifty day moving average price of $17.99 and a 200-day moving average price of $18.31. The AES Co. has a 1 year low of $14.53 and a 1 year high of $22.21.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period last year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that The AES Co. will post 1.9 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 4.07%. The ex-dividend date is Friday, November 1st. AES’s payout ratio is currently 95.83%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AES shares. Jefferies Financial Group assumed coverage on AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Barclays upped their target price on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.57.

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.