B.A. Schrock Wealth Management Inc. Purchases New Holdings in The AES Corporation $AES

B.A. Schrock Wealth Management Inc. acquired a new stake in The AES Corporation (NYSE:AES) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 38,474 shares of the utilities provider’s stock, valued at approximately $574,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in shares of AES by 15.3% during the third quarter. Mather Group LLC. now owns 32,582 shares of the utilities provider’s stock worth $485,000 after buying an additional 4,334 shares in the last quarter. Wedmont Private Capital boosted its position in AES by 6.2% during the third quarter. Wedmont Private Capital now owns 17,078 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 1,001 shares during the last quarter. GAMMA Investing LLC grew its stake in AES by 47.4% during the 3rd quarter. GAMMA Investing LLC now owns 49,985 shares of the utilities provider’s stock valued at $745,000 after acquiring an additional 16,064 shares in the last quarter. Farther Finance Advisors LLC grew its stake in AES by 135.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 59,641 shares of the utilities provider’s stock valued at $889,000 after acquiring an additional 34,341 shares in the last quarter. Finally, CX Institutional raised its holdings in AES by 31.3% in the 3rd quarter. CX Institutional now owns 19,652 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 4,687 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Seven research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.83.

AES Stock Performance

NYSE AES opened at $14.96 on Thursday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.67 and a current ratio of 0.75. The stock’s fifty day moving average is $14.82 and its two-hundred day moving average is $14.66. The firm has a market capitalization of $10.67 billion, a P/E ratio of 5.71 and a beta of 0.97. The AES Corporation has a fifty-two week low of $13.21 and a fifty-two week high of $17.65.

AES (NYSE:AES) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. AES had a return on equity of 20.69% and a net margin of 14.30%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, research analysts anticipate that The AES Corporation will post 2.02 earnings per share for the current year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $0.1759 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, October 30th. AES’s payout ratio is presently 26.72%.

AES Company Profile

AES Corporation is a global energy company that develops, owns and operates electricity generation and utility businesses. Its activities include renewable energy, natural gas-fired generation, battery energy storage and other energy infrastructure, as well as the distribution of electricity to customers through regulated utility operations.

The company serves residential, commercial and industrial customers in the United States and international markets, including countries in Latin America.