Intact Investment Management Inc. Sells 4,660 Shares of The AES Co. (NYSE:AES)

Intact Investment Management Inc. lowered its stake in The AES Co. (NYSE:AES) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 366,350 shares of the utilities provider’s stock after selling 4,660 shares during the period. Intact Investment Management Inc.’s holdings in AES were worth $7,349,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AES. Norden Group LLC lifted its stake in AES by 80.3% during the first quarter. Norden Group LLC now owns 27,902 shares of the utilities provider’s stock worth $500,000 after purchasing an additional 12,429 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AES by 316.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,872 shares of the utilities provider’s stock valued at $5,843,000 after acquiring an additional 247,663 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of AES by 33.3% during the 1st quarter. BNP Paribas Financial Markets now owns 794,793 shares of the utilities provider’s stock valued at $14,251,000 after acquiring an additional 198,360 shares in the last quarter. Janney Montgomery Scott LLC grew its position in AES by 729.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 278,575 shares of the utilities provider’s stock worth $4,995,000 after acquiring an additional 244,973 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in AES by 10.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,033 shares of the utilities provider’s stock worth $467,000 after purchasing an additional 2,407 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Trading Up 2.0 %

AES opened at $15.00 on Monday. The stock has a market cap of $10.66 billion, a PE ratio of 10.22 and a beta of 1.10. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63. The AES Co. has a twelve month low of $14.68 and a twelve month high of $22.21. The company has a fifty day moving average of $17.85 and a 200-day moving average of $18.29.

AES (NYSE:AES) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. AES had a return on equity of 28.95% and a net margin of 8.34%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, sell-side analysts predict that The AES Co. will post 1.91 EPS for the current year.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, November 1st. AES’s dividend payout ratio (DPR) is 47.92%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays upped their price objective on AES from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on shares of AES in a research note on Wednesday, September 11th. They set a “buy” rating and a $20.00 price target for the company. Finally, Evercore ISI raised shares of AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.57.

About AES

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.