The AES Co. (NYSE:AES) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in The AES Co. (NYSE:AES – Get Rating) by 13.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 412,305 shares of the utilities provider’s stock after acquiring an additional 47,664 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of AES worth $8,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AES. CWM LLC boosted its holdings in AES by 32.9% in the first quarter. CWM LLC now owns 4,034 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 998 shares during the last quarter. Allworth Financial LP lifted its stake in shares of AES by 9,238.5% during the first quarter. Allworth Financial LP now owns 1,214 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 1,201 shares in the last quarter. Dupont Capital Management Corp lifted its stake in shares of AES by 89.9% during the first quarter. Dupont Capital Management Corp now owns 6,978 shares of the utilities provider’s stock worth $180,000 after purchasing an additional 3,303 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in shares of AES by 7.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 11,811 shares of the utilities provider’s stock worth $304,000 after purchasing an additional 832 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its stake in shares of AES by 6.8% during the first quarter. Baker Tilly Wealth Management LLC now owns 21,686 shares of the utilities provider’s stock worth $558,000 after purchasing an additional 1,383 shares in the last quarter. Institutional investors and hedge funds own 95.25% of the company’s stock.

AES Trading Down 1.1 %

NYSE:AES opened at $26.49 on Wednesday. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.12 and a current ratio of 1.29. The stock has a market cap of $17.69 billion, a price-to-earnings ratio of -56.36, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The AES Co. has a one year low of $18.62 and a one year high of $27.78. The business’s 50-day simple moving average is $25.29 and its 200 day simple moving average is $23.01.

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AES (NYSE:AES – Get Rating) last announced its quarterly earnings data on Friday, November 4th. The utilities provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.93 billion. AES had a positive return on equity of 36.60% and a negative net margin of 1.88%. AES’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, sell-side analysts predict that The AES Co. will post 1.65 earnings per share for the current fiscal year.

AES Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be issued a $0.158 dividend. This represents a $0.63 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, October 31st. AES’s dividend payout ratio is currently -134.04%.

Wall Street Analyst Weigh In

AES has been the topic of a number of recent research reports. Susquehanna boosted their price objective on AES from $30.00 to $33.00 in a research note on Monday. Morgan Stanley reduced their price objective on AES from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. Credit Suisse Group boosted their price objective on AES from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 19th. Susquehanna Bancshares boosted their price target on AES from $30.00 to $33.00 in a research note on Monday. Finally, StockNews.com started coverage on AES in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, AES currently has an average rating of “Moderate Buy” and an average price target of $30.00.

AES Company Profile

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The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.