Gabelli Funds LLC Trims Position in The AES Co. (NYSE:AES)

Gabelli Funds LLC trimmed its holdings in shares of The AES Co. (NYSE:AES – Get Rating) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,731,600 shares of the utilities provider’s stock after selling 7,000 shares during the period. Gabelli Funds LLC owned about 0.56% of AES worth $90,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Achmea Investment Management B.V. bought a new position in AES during the 3rd quarter worth about $25,000. Spire Wealth Management grew its holdings in AES by 31.0% during the 4th quarter. Spire Wealth Management now owns 1,965 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 465 shares in the last quarter. Allegheny Financial Group LTD bought a new stake in shares of AES in the 4th quarter valued at about $67,000. CWM LLC bought a new stake in shares of AES in the 4th quarter valued at about $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of AES in the 4th quarter valued at about $85,000. Institutional investors own 92.97% of the company’s stock.

Shares of AES traded down $0.14 during trading hours on Friday, hitting $20.53. The stock had a trading volume of 5,294,444 shares, compared to its average volume of 6,103,837. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.95 and a current ratio of 1.07. The firm has a 50-day moving average price of $22.90 and a 200 day moving average price of $23.06. The AES Co. has a fifty-two week low of $19.14 and a fifty-two week high of $27.00. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of -76.04, a PEG ratio of 1.77 and a beta of 1.01.

AES (NYSE:AES – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.53 billion. AES had a positive return on equity of 33.02% and a negative net margin of 2.21%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, analysts predict that The AES Co. will post 1.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were issued a dividend of $0.158 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, April 28th. AES’s payout ratio is -233.33%.

In other AES news, CFO Stephen Coughlin bought 47,000 shares of the company’s stock in a transaction dated Friday, March 4th. The stock was acquired at an average price of $21.30 per share, with a total value of $1,001,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is owned by corporate insiders.

Several equities analysts recently commented on the stock. Susquehanna Bancshares decreased their price objective on shares of AES from $32.00 to $30.00 in a research report on Tuesday, May 10th. Credit Suisse Group assumed coverage on shares of AES in a research report on Monday, April 25th. They issued a “neutral” rating and a $25.00 price objective for the company. Susquehanna decreased their price objective on shares of AES from $32.00 to $30.00 in a research report on Tuesday, May 10th. StockNews.com started coverage on shares of AES in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Seaport Res Ptn reissued a “buy” rating on shares of AES in a research report on Monday, April 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $28.69.

AES Profile (Get Rating)

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.

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