Providence Capital Advisors LLC Acquires 4,947 Shares of The AES Co. (NYSE:AES)

Providence Capital Advisors LLC lifted its stake in The AES Co. (NYSE:AES) by 1.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 372,983 shares of the utilities provider’s stock after buying an additional 4,947 shares during the period. AES makes up approximately 1.5% of Providence Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding. Providence Capital Advisors LLC’s holdings in AES were worth $7,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC lifted its position in AES by 92.4% in the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 720 shares during the last quarter. Rothschild Investment LLC purchased a new stake in AES during the 2nd quarter valued at $28,000. Cromwell Holdings LLC increased its holdings in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 640 shares during the period. UMB Bank n.a. raised its position in AES by 102.3% during the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 898 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in AES in the 2nd quarter worth approximately $33,000. Institutional investors own 93.13% of the company’s stock.

AES Stock Up 3.3 %

AES stock opened at $13.00 on Thursday. 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 business has a 50 day moving average of $16.60 and a 200 day moving average of $17.79. The AES Co. has a twelve month low of $12.53 and a twelve month high of $22.21. The firm has a market cap of $9.24 billion, a PE ratio of 9.02 and a beta of 1.10.

AES (NYSE:AES) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. AES’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, research analysts forecast that The AES Co. will post 1.94 EPS for the current fiscal year.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Friday, November 1st. AES’s dividend payout ratio (DPR) is currently 47.92%.

Analyst Ratings Changes

AES has been the subject of a number of recent analyst reports. Barclays upped their target price on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Mizuho dropped their target price on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Jefferies Financial Group initiated coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Susquehanna cut their price objective on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Finally, Evercore ISI raised AES to a “strong-buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.22.

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.