Assenagon Asset Management S.A. Has $43 Million Stock Holdings in The AES Co. (NYSE:AES)

Assenagon Asset Management S.A. increased its position in shares of The AES Co. (NYSE:AES) by 169.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,143,688 shares of the utilities provider’s stock after buying an additional 1,348,195 shares during the period. Assenagon Asset Management S.A. owned 0.30% of AES worth $43,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in AES during the third quarter valued at about $2,803,000. Community Trust & Investment Co. boosted its stake in AES by 13.8% during the 3rd quarter. Community Trust & Investment Co. now owns 178,176 shares of the utilities provider’s stock valued at $3,574,000 after purchasing an additional 21,577 shares during the period. Waldron Private Wealth LLC bought a new position in AES in the 3rd quarter worth approximately $325,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of AES by 0.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 279,670 shares of the utilities provider’s stock worth $5,607,000 after buying an additional 2,369 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of AES by 1.2% in the third quarter. Whittier Trust Co. now owns 646,208 shares of the utilities provider’s stock worth $12,956,000 after acquiring an additional 7,734 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on AES shares. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Barclays upped their price objective on shares of AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group began coverage on AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AES presently has an average rating of “Moderate Buy” and a consensus target price of $22.57.

AES Trading Down 0.6 %

AES stock opened at $16.98 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The firm has a market cap of $12.07 billion, a P/E ratio of 23.58 and a beta of 1.07. The AES Co. has a 1-year low of $14.33 and a 1-year high of $22.21. The business’s 50 day moving average is $17.99 and its 200-day moving average is $18.32.

AES (NYSE:AES) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. AES had a return on equity of 32.74% and a net margin of 6.07%. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts anticipate that The AES Co. will post 1.9 earnings per share for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.1725 per share. The ex-dividend date is Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.06%. AES’s dividend payout ratio is 95.83%.

AES Company 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.