CIBC Asset Management Inc Increases Stock Holdings in The AES Co. (NYSE:AES)

CIBC Asset Management Inc boosted its position in shares of The AES Co. (NYSE:AES) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,521 shares of the utilities provider’s stock after purchasing an additional 8,061 shares during the period. CIBC Asset Management Inc’s holdings in AES were worth $2,097,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AES. Oppenheimer Asset Management Inc. raised its position in shares of AES by 3.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 447,842 shares of the utilities provider’s stock valued at $8,984,000 after buying an additional 16,750 shares during the period. OLD Second National Bank of Aurora grew its holdings in shares of AES by 1.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 84,624 shares of the utilities provider’s stock worth $1,698,000 after purchasing an additional 835 shares during the period. Empower Advisory Group LLC raised its holdings in AES by 5.8% in the 3rd quarter. Empower Advisory Group LLC now owns 3,522,334 shares of the utilities provider’s stock valued at $70,658,000 after buying an additional 193,755 shares during the period. Live Oak Investment Partners lifted its position in AES by 3.9% in the third quarter. Live Oak Investment Partners now owns 29,241 shares of the utilities provider’s stock valued at $587,000 after buying an additional 1,104 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in AES by 3.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,000 shares of the utilities provider’s stock worth $32,016,000 after buying an additional 59,735 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analysts Set New Price Targets

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

AES Price Performance

Shares of NYSE:AES opened at $13.74 on Wednesday. The AES Co. has a fifty-two week low of $13.27 and a fifty-two week high of $22.21. The firm’s 50 day moving average price is $17.15 and its 200 day moving average price is $18.01. 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 stock has a market cap of $9.77 billion, a price-to-earnings ratio of 9.54 and a beta of 1.10.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.46 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. As a group, equities research analysts predict that The AES Co. will post 1.93 earnings per share for the current fiscal year.

AES Dividend Announcement

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

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.