Resonant Capital Advisors LLC acquired a new stake in AES Corp (NYSE:AES) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,464 shares of the utilities provider’s stock, valued at approximately $248,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AES. Ilmarinen Mutual Pension Insurance Co purchased a new stake in AES during the third quarter worth approximately $1,397,000. Colony Group LLC raised its position in AES by 10.1% in the third quarter. Colony Group LLC now owns 20,095 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 1,839 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of AES by 34.6% during the 3rd quarter. Voya Investment Management LLC now owns 1,515,006 shares of the utilities provider’s stock worth $24,755,000 after purchasing an additional 389,059 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of AES by 9.2% in the third quarter. Pictet Asset Management Ltd. now owns 3,011,113 shares of the utilities provider’s stock valued at $49,202,000 after purchasing an additional 254,907 shares during the period. Finally, Covington Capital Management boosted its holdings in AES by 51.3% during the third quarter. Covington Capital Management now owns 3,532 shares of the utilities provider’s stock worth $58,000 after buying an additional 1,197 shares in the last quarter. 93.27% of the stock is owned by institutional investors.
AES has been the subject of a number of research analyst reports. SunTrust Banks increased their target price on shares of AES from $22.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 10th. UBS Group upgraded AES from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $21.00 to $16.00 in a report on Monday, March 16th. TheStreet downgraded AES from a “b” rating to a “c” rating in a research note on Friday, February 28th. Finally, Morgan Stanley upgraded AES from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $19.00 to $16.50 in a research report on Monday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. AES currently has a consensus rating of “Buy” and a consensus price target of $18.01.
Shares of AES stock traded up $0.68 during mid-day trading on Thursday, hitting $13.50. 7,769,647 shares of the company’s stock were exchanged, compared to its average volume of 5,303,210. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.01 and a beta of 1.14. The stock has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $17.88. AES Corp has a fifty-two week low of $8.11 and a fifty-two week high of $21.23. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 3.50.
AES (NYSE:AES) last announced its quarterly earnings data on Friday, February 28th. The utilities provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. AES had a net margin of 2.97% and a return on equity of 22.82%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the firm posted $0.36 EPS. The company’s revenue was down 7.3% on a year-over-year basis. As a group, analysts anticipate that AES Corp will post 1.43 earnings per share for the current fiscal year.
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.
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