Glassman Wealth Services Boosts Holdings in The AES Co. (NYSE:AES)

Glassman Wealth Services grew its stake in The AES Co. (NYSE:AES) by 186.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,928 shares of the utilities provider’s stock after purchasing an additional 1,254 shares during the period. Glassman Wealth Services’ holdings in AES were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in AES by 15.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock valued at $10,330,000 after purchasing an additional 91,247 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of AES by 370.1% in the 3rd quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock worth $1,770,000 after acquiring an additional 91,749 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of AES by 81.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 351,220 shares of the utilities provider’s stock valued at $5,339,000 after acquiring an additional 157,421 shares during the last quarter. Quadrature Capital Ltd raised its stake in AES by 54.8% during the third quarter. Quadrature Capital Ltd now owns 273,365 shares of the utilities provider’s stock worth $4,157,000 after purchasing an additional 96,808 shares during the period. Finally, Channing Capital Management LLC boosted its holdings in AES by 16.7% in the 3rd quarter. Channing Capital Management LLC now owns 352,276 shares of the utilities provider’s stock valued at $5,355,000 after purchasing an additional 50,341 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Up 4.2 %

Shares of NYSE:AES traded up $0.76 during trading on Thursday, hitting $18.93. The company’s stock had a trading volume of 10,576,186 shares, compared to its average volume of 8,277,510. The company has a market capitalization of $13.46 billion, a PE ratio of 57.09 and a beta of 1.08. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.61 and a current ratio of 0.68. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $23.07. The business has a 50 day moving average price of $16.61 and a two-hundred day moving average price of $16.93.

AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. AES had a return on equity of 38.76% and a net margin of 2.12%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the company earned $0.49 EPS. AES’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts expect that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.1725 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.69 annualized dividend and a dividend yield of 3.65%. AES’s dividend payout ratio (DPR) is currently 209.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Argus reaffirmed a “buy” rating and set a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of AES in a report on Tuesday, April 9th. Barclays decreased their target price on shares of AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. UBS Group decreased their price objective on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of AES in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.13.

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.