Oppenheimer Asset Management Inc. Purchases 16,750 Shares of The AES Co. (NYSE:AES)

Oppenheimer Asset Management Inc. increased its position in shares of The AES Co. (NYSE:AES) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 447,842 shares of the utilities provider’s stock after acquiring an additional 16,750 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of AES worth $8,984,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AES. CWM LLC lifted its holdings in shares of AES by 2.4% during the 2nd quarter. CWM LLC now owns 27,122 shares of the utilities provider’s stock valued at $477,000 after purchasing an additional 628 shares during the last quarter. Cromwell Holdings LLC raised its stake in AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock valued at $35,000 after buying an additional 640 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in AES by 1.6% in the second quarter. Raymond James Trust N.A. now owns 44,433 shares of the utilities provider’s stock worth $781,000 after acquiring an additional 711 shares in the last quarter. Rise Advisors LLC increased its holdings in shares of 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. Finally, SeaCrest Wealth Management LLC raised its position in shares of AES by 3.2% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 26,301 shares of the utilities provider’s stock valued at $528,000 after purchasing an additional 826 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Stock Performance

NYSE AES opened at $13.63 on Thursday. The firm has a market capitalization of $9.69 billion, a P/E ratio of 9.46 and a beta of 1.10. The stock has a 50-day simple moving average of $17.36 and a two-hundred day simple moving average of $18.14. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85. The AES Co. has a fifty-two week low of $13.27 and a fifty-two week high of $22.21.

AES (NYSE:AES) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that The AES Co. will post 1.93 earnings per share for the current year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $0.1725 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 5.06%. AES’s dividend payout ratio (DPR) is presently 47.92%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of AES in a research report 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 research report on Wednesday, September 18th. Susquehanna reduced their target price on AES from $24.00 to $21.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays boosted their price target on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.38.

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.