Kerusso Capital Management LLC Takes $2.56 Million Position in The AES Co. (NYSE:AES)

Kerusso Capital Management LLC purchased a new position in shares of The AES Co. (NYSE:AES) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 145,598 shares of the utilities provider’s stock, valued at approximately $2,558,000. AES makes up approximately 1.9% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 24th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in AES. Russell Investments Group Ltd. boosted its stake in shares of AES by 15.5% in the fourth quarter. Russell Investments Group Ltd. now owns 136,334 shares of the utilities provider’s stock valued at $2,625,000 after buying an additional 18,303 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of AES by 69.0% in the 4th quarter. Natixis Advisors L.P. now owns 146,387 shares of the utilities provider’s stock valued at $2,817,000 after purchasing an additional 59,774 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of AES in the fourth quarter valued at about $215,000. Charles Schwab Investment Management Inc. boosted its holdings in AES by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,053,860 shares of the utilities provider’s stock worth $116,537,000 after buying an additional 325,564 shares in the last quarter. Finally, Concourse Financial Group Securities Inc. grew its position in AES by 13.0% during the fourth quarter. Concourse Financial Group Securities Inc. now owns 7,008 shares of the utilities provider’s stock worth $135,000 after buying an additional 806 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AES. Barclays decreased their price target on AES from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Mizuho boosted their target price on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Seaport Res Ptn downgraded AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

AES Stock Down 4.4 %

AES opened at $16.19 on Friday. The firm has a market cap of $11.51 billion, a P/E ratio of 22.49 and a beta of 1.07. The business’s fifty day simple moving average is $17.34 and its 200 day simple moving average is $17.85. The AES Co. has a 52 week low of $11.43 and a 52 week high of $22.21. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 3.63.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.22 billion. AES had a net margin of 6.07% and a return on equity of 32.74%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities research analysts anticipate that The AES Co. will post 1.91 EPS for the current fiscal year.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend was Thursday, August 1st. AES’s dividend payout ratio (DPR) is 95.83%.

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.