Snowden Capital Advisors LLC Acquires 21,447 Shares of The AES Co. (NYSE:AES)

Snowden Capital Advisors LLC raised its holdings in The AES Co. (NYSE:AES) by 119.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,425 shares of the utilities provider’s stock after acquiring an additional 21,447 shares during the quarter. Snowden Capital Advisors LLC’s holdings in AES were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AES. Wealthcare Advisory Partners LLC purchased a new stake in shares of AES in the 4th quarter worth $314,000. Diversify Wealth Management LLC lifted its holdings in shares of AES by 36.9% in the 4th quarter. Diversify Wealth Management LLC now owns 54,051 shares of the utilities provider’s stock worth $650,000 after buying an additional 14,562 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of AES by 33.7% in the 4th quarter. Diversify Advisory Services LLC now owns 19,898 shares of the utilities provider’s stock worth $239,000 after buying an additional 5,016 shares during the period. UMB Bank n.a. lifted its holdings in shares of AES by 5,143.7% in the 4th quarter. UMB Bank n.a. now owns 76,977 shares of the utilities provider’s stock worth $991,000 after buying an additional 75,509 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in shares of AES in the 4th quarter worth $129,000. Institutional investors own 93.13% of the company’s stock.

Analyst Ratings Changes

AES has been the subject of several research reports. Mizuho lowered their target price on AES from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company upped their price objective on AES from $108.00 to $112.00 in a research note on Friday, May 2nd. Seaport Res Ptn cut AES from a “hold” rating to a “strong sell” rating in a research note on Monday, March 3rd. Citigroup decreased their price objective on AES from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $13.00 in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

AES Trading Down 4.1%

Shares of NYSE:AES opened at $11.23 on Wednesday. The business’s 50-day moving average is $11.27 and its 200 day moving average is $11.89. The AES Co. has a 1 year low of $9.57 and a 1 year high of $22.21. The firm has a market capitalization of $7.99 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.82 and a beta of 0.94. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80.

AES (NYSE:AES) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.10). AES had a net margin of 8.34% and a return on equity of 27.30%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, 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 Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $0.176 per share. This represents a $0.70 annualized dividend and a yield of 6.27%. The ex-dividend date was Thursday, May 1st. AES’s dividend payout ratio is currently 38.04%.

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.