Rockefeller Capital Management L.P. Increases Stake in The AES Co. (NYSE:AES)

Rockefeller Capital Management L.P. raised its stake in shares of The AES Co. (NYSE:AES) by 33.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 512,723 shares of the utilities provider’s stock after purchasing an additional 127,850 shares during the period. Rockefeller Capital Management L.P. owned 0.07% of AES worth $10,284,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AES. Zurich Insurance Group Ltd FI purchased a new stake in shares of AES during the 2nd quarter worth about $30,746,000. Assenagon Asset Management S.A. lifted its holdings in shares of AES by 169.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,143,688 shares of the utilities provider’s stock valued at $43,002,000 after acquiring an additional 1,348,195 shares in the last quarter. Bridgewater Associates LP purchased a new stake in AES during the 3rd quarter worth $17,390,000. Hsbc Holdings PLC increased its holdings in AES by 41.1% in the 2nd quarter. Hsbc Holdings PLC now owns 2,898,119 shares of the utilities provider’s stock valued at $51,293,000 after purchasing an additional 844,888 shares in the last quarter. Finally, TCW Group Inc. raised its position in AES by 45.8% in the second quarter. TCW Group Inc. now owns 2,639,694 shares of the utilities provider’s stock valued at $46,379,000 after purchasing an additional 828,840 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Stock Up 0.3 %

NYSE:AES opened at $13.05 on Wednesday. The stock has a 50-day simple moving average of $16.11 and a 200 day simple moving average of $17.57. The AES Co. has a one year low of $12.53 and a one year high of $22.21. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.80 and a current ratio of 0.85.

AES (NYSE:AES) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.46 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Sell-side analysts predict that The AES Co. will post 1.95 EPS for the current fiscal year.

AES Dividend Announcement

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

Wall Street Analysts Forecast Growth

AES has been the topic of several analyst reports. Mizuho dropped their target price on AES from $24.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Jefferies Financial Group initiated coverage on shares of AES in a research report on Wednesday, September 11th. They set a “buy” rating and a $20.00 target price on the stock. Evercore ISI raised shares of AES to a “strong-buy” rating in a report on Wednesday, September 18th. Susquehanna cut their price objective on shares of AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays lifted their target price on AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.22.

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.