King Luther Capital Management Corp Boosts Holdings in The AES Co. (NYSE:AES)

King Luther Capital Management Corp boosted its position in shares of The AES Co. (NYSE:AES) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,000 shares of the utilities provider’s stock after purchasing an additional 16,365 shares during the period. King Luther Capital Management Corp’s holdings in AES were worth $3,450,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its position in shares of AES by 92.4% during the second quarter. Rise Advisors LLC now owns 1,499 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 720 shares during the last quarter. Rothschild Investment LLC acquired a new position in AES during the 2nd quarter worth $28,000. UMB Bank n.a. raised its stake in AES by 102.3% during the second quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after buying an additional 898 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of AES during the 2nd quarter valued at approximately $33,000. Finally, Cromwell Holdings LLC lifted its position in shares of AES by 59.1% in the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after buying an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Trading Down 1.6 %

Shares of NYSE:AES opened at $13.04 on Friday. The AES Co. has a twelve month low of $12.97 and a twelve month high of $22.21. 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 firm has a market cap of $9.27 billion, a P/E ratio of 9.02 and a beta of 1.10. The company has a 50 day moving average of $16.96 and a 200-day moving average of $17.95.

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

AES Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.1725 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.29%. AES’s payout ratio is currently 47.92%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AES. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Barclays boosted their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Susquehanna cut their target price on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Mizuho lowered their price target on shares of AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group began coverage on shares of AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.38.

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.