The AES Co. (NYSE:AES) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in The AES Co. (NYSE:AES) by 7.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,527 shares of the utilities provider’s stock after selling 4,026 shares during the period. Kentucky Retirement Systems’ holdings in AES were worth $994,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC raised its position in shares of AES by 92.4% in the second 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. Rothschild Investment LLC acquired a new position in shares of AES in the second quarter valued at approximately $28,000. UMB Bank n.a. increased its position 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 purchasing an additional 898 shares during the last quarter. nVerses Capital LLC acquired a new position in AES during the second quarter worth approximately $33,000. Finally, Cromwell Holdings LLC increased its position in AES by 59.1% during 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 during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AES. Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Evercore ISI raised shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. Susquehanna dropped their price target on shares of AES from $24.00 to $21.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Finally, Barclays boosted their price objective on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.38.

AES Price Performance

Shares of AES stock opened at $13.74 on Wednesday. The company has a market capitalization of $9.77 billion, a PE ratio of 9.54 and a beta of 1.10. The firm has a fifty day simple moving average of $17.15 and a 200-day simple moving average of $18.01. 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 AES Co. has a twelve month low of $13.27 and a twelve month high of $22.21.

AES (NYSE:AES) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. The business 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%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.1725 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 annualized dividend and a dividend yield of 5.02%. AES’s dividend payout ratio (DPR) is presently 47.92%.

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.