DRW Securities LLC Buys New Stake in The AES Co. (NYSE:AES)

DRW Securities LLC purchased a new position in shares of The AES Co. (NYSE:AES) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 35,419 shares of the utilities provider’s stock, valued at approximately $711,000.

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

AES Price Performance

Shares of NYSE AES opened at $12.58 on Wednesday. The firm has a 50-day simple moving average of $16.73 and a 200-day simple moving average of $17.84. 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 stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 8.73 and a beta of 1.10. The AES Co. has a 52 week low of $12.53 and a 52 week high of $22.21.

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

AES Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is currently 47.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Evercore ISI raised AES to a “strong-buy” rating in a report on Wednesday, September 18th. Barclays upped their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America initiated coverage on shares of AES in a research note on Monday. They issued an “underperform” rating and a $11.00 price target on the stock. Finally, Mizuho decreased their price objective on shares of AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AES currently has an average rating of “Moderate Buy” and a consensus target price of $20.22.

AES Company 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.