Cypress Capital LLC Increases Position in The AES Co. (NYSE:AES)

Cypress Capital LLC lifted its position in shares of The AES Co. (NYSE:AES – Get Rating) by 6.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 40,626 shares of the utilities provider’s stock after buying an additional 2,562 shares during the quarter. Cypress Capital LLC’s holdings in AES were worth $1,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Credit Agricole S A raised its stake in AES by 15.0% during the fourth quarter. Credit Agricole S A now owns 4,063 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 529 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its stake in AES by 3.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,595 shares of the utilities provider’s stock worth $428,000 after purchasing an additional 580 shares during the period. Marcum Wealth LLC raised its stake in AES by 6.0% during the first quarter. Marcum Wealth LLC now owns 10,922 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 614 shares during the period. CIBC Asset Management Inc raised its stake in AES by 1.0% during the first quarter. CIBC Asset Management Inc now owns 65,296 shares of the utilities provider’s stock worth $1,680,000 after purchasing an additional 627 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in AES by 17.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,231 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 638 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

AES Price Performance

AES opened at $24.22 on Friday. The company has a fifty day simple moving average of $21.09 and a 200 day simple moving average of $21.95. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of -41.76, a PEG ratio of 1.91 and a beta of 0.97. The AES Co. has a twelve month low of $18.62 and a twelve month high of $26.52. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 4.64.

AES (NYSE:AES – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.53 billion. AES had a negative net margin of 2.64% and a positive return on equity of 32.74%. AES’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. Equities research analysts expect that The AES Co. will post 1.6 EPS for the current fiscal year.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be issued a dividend of $0.158 per share. This represents a $0.63 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, July 29th. AES’s payout ratio is -108.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AES shares. Susquehanna cut their price target on shares of AES from $32.00 to $30.00 in a research note on Tuesday, May 10th. Credit Suisse Group initiated coverage on shares of AES in a research report on Monday, April 25th. They issued a “neutral” rating and a $25.00 price objective for the company. Morgan Stanley dropped their price objective on shares of AES from $29.00 to $28.50 and set an “overweight” rating for the company in a research report on Thursday, June 23rd. Finally, Susquehanna Bancshares dropped their price objective on shares of AES from $32.00 to $30.00 in a research report on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and an average price target of $28.50.

AES Company Profile

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The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.