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

Providence Capital Advisors LLC lifted its stake in shares of The AES Co. (NYSE:AES) by 1.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 372,983 shares of the utilities provider’s stock after acquiring an additional 4,947 shares during the period. AES accounts for about 1.5% of Providence Capital Advisors LLC’s portfolio, making the stock its 18th largest position. Providence Capital Advisors LLC owned approximately 0.05% of AES worth $7,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AES. CWM LLC grew its position 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 acquiring an additional 628 shares during the period. Cromwell Holdings LLC grew its holdings in AES by 59.1% during the third 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. Raymond James Trust N.A. increased its position 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 buying an additional 711 shares during the last quarter. Rise Advisors LLC lifted its position in shares of AES by 92.4% during the 2nd quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock valued at $26,000 after buying an additional 720 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its stake in shares of AES by 3.2% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 26,301 shares of the utilities provider’s stock worth $528,000 after acquiring an additional 826 shares during the period. 93.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

AES Stock Performance

Shares of AES opened at $13.00 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock has a 50-day moving average price of $16.60 and a 200-day moving average price of $17.79. The company has a market cap of $9.24 billion, a PE ratio of 9.02 and a beta of 1.10. The AES Co. has a 12-month low of $12.53 and a 12-month high of $22.21.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that The AES Co. will post 1.94 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Friday, November 1st. AES’s payout ratio is currently 47.92%.

About AES

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.