Community Trust & Investment Co. Has $3.57 Million Stock Position in The AES Co. (NYSE:AES)

Community Trust & Investment Co. lifted its holdings in The AES Co. (NYSE:AES) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,176 shares of the utilities provider’s stock after purchasing an additional 21,577 shares during the period. Community Trust & Investment Co.’s holdings in AES were worth $3,574,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of AES by 2.2% in the first quarter. Vanguard Group Inc. now owns 89,725,232 shares of the utilities provider’s stock worth $1,608,773,000 after buying an additional 1,929,523 shares during the last quarter. Capital International Investors lifted its holdings in AES by 11.4% in the 1st quarter. Capital International Investors now owns 77,641,395 shares of the utilities provider’s stock worth $1,392,110,000 after purchasing an additional 7,969,594 shares during the last quarter. M&G Plc bought a new stake in AES during the first quarter worth approximately $123,272,000. Bank of New York Mellon Corp grew its holdings in AES by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider’s stock valued at $83,805,000 after purchasing an additional 141,565 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of AES by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,132,744 shares of the utilities provider’s stock valued at $55,084,000 after purchasing an additional 444,252 shares during the period. 93.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday. Evercore ISI upgraded AES to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on shares of AES in a research note on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.57.

AES Stock Down 1.2 %

Shares of NYSE AES opened at $17.00 on Wednesday. The AES Co. has a 12-month low of $13.55 and a 12-month high of $22.21. The firm’s 50-day simple moving average is $18.00 and its 200 day simple moving average is $18.34. 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 company has a market cap of $12.08 billion, a price-to-earnings ratio of 23.61 and a beta of 1.07.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. AES had a net margin of 6.07% and a return on equity of 32.74%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the business posted $0.21 earnings per share. AES’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts expect that The AES Co. will post 1.9 earnings per share for the current fiscal year.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.1725 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.69 annualized dividend and a yield of 4.06%. AES’s dividend payout ratio is presently 95.83%.

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.