Polymer Capital Management HK LTD Invests $261,000 in The AES Co. (NYSE:AES)

Polymer Capital Management HK LTD acquired a new position in shares of The AES Co. (NYSE:AES) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,000 shares of the utilities provider’s stock, valued at approximately $261,000.

Other hedge funds also recently made changes to their positions in the company. Millburn Ridgefield Corp bought a new position in shares of AES during the third quarter worth about $28,000. Rothschild Investment LLC bought a new stake in AES in the second quarter worth approximately $28,000. Cromwell Holdings LLC increased its holdings in AES by 59.1% in the third quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 640 shares in the last quarter. UMB Bank n.a. increased its holdings in AES by 102.3% in the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 898 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in AES in the second quarter worth approximately $33,000. 93.13% of the stock is currently owned by institutional investors.

AES Stock Up 2.9 %

Shares of NYSE:AES opened at $13.43 on Thursday. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.68 and a beta of 1.01. 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 AES Co. has a 12-month low of $12.53 and a 12-month high of $22.21. The business’s 50 day moving average is $15.87 and its 200 day moving average is $17.49.

AES (NYSE:AES) last announced 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. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. AES’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, sell-side analysts forecast that The AES Co. will post 1.95 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.1725 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 5.14%. AES’s dividend payout ratio is currently 47.92%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on AES in a report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Bank of America started coverage on AES in a report on Monday, November 25th. They issued an “underperform” rating and a $11.00 target price for the company. Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Susquehanna decreased their price objective on AES from $24.00 to $21.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.