Capital World Investors grew its stake in AES Corp (NYSE:AES) by 69.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,251,344 shares of the utilities provider’s stock after purchasing an additional 30,109,393 shares during the period. Capital World Investors owned approximately 11.03% of AES worth $1,457,702,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new position in AES during the fourth quarter worth $120,000. Alliancebernstein L.P. grew its holdings in AES by 0.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,258,715 shares of the utilities provider’s stock worth $25,048,000 after acquiring an additional 11,024 shares during the period. Colony Group LLC grew its holdings in AES by 36.7% during the fourth quarter. Colony Group LLC now owns 27,475 shares of the utilities provider’s stock worth $547,000 after acquiring an additional 7,380 shares during the period. AXA grew its holdings in AES by 114.7% during the fourth quarter. AXA now owns 90,986 shares of the utilities provider’s stock worth $1,811,000 after acquiring an additional 48,600 shares during the period. Finally, Resonant Capital Advisors LLC acquired a new stake in AES in the fourth quarter valued at $248,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. TheStreet lowered AES from a “b” rating to a “c” rating in a report on Friday, February 28th. UBS Group raised AES from a “neutral” rating to a “buy” rating and lowered their target price for the company from $21.00 to $16.00 in a report on Monday, March 16th. SunTrust Banks upped their target price on AES from $22.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Morgan Stanley raised AES from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $19.00 to $16.50 in a report on Monday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $18.01.
In other news, Director Tarun Khanna bought 4,300 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $11.27 per share, for a total transaction of $48,461.00. Following the transaction, the director now owns 4,300 shares in the company, valued at $48,461. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Tish Mendoza bought 3,240 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was purchased at an average price of $9.28 per share, with a total value of $30,067.20. Following the transaction, the vice president now owns 111,946 shares in the company, valued at approximately $1,038,858.88. The disclosure for this purchase can be found here. In the last quarter, insiders bought 39,293 shares of company stock valued at $442,461. Insiders own 1.54% of the company’s stock.
Shares of NYSE:AES opened at $12.82 on Thursday. 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 Corp has a 52-week low of $8.11 and a 52-week high of $21.23. The stock’s fifty day simple moving average is $17.07 and its 200-day simple moving average is $17.88. The company has a market capitalization of $8.41 billion, a P/E ratio of 28.49, a P/E/G ratio of 1.01 and a beta of 1.14.
AES (NYSE:AES) last released its earnings results 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. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.93 billion. AES had a return on equity of 22.82% and a net margin of 2.97%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that AES Corp will post 1.43 earnings per share for the current year.
AES Company Profile
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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