Quarry LP Increases Position in The AES Co. (NYSE:AES)

Quarry LP lifted its stake in shares of The AES Co. (NYSE:AES) by 12.3% during the 4th quarter, HoldingsChannel reports. The firm owned 15,323 shares of the utilities provider’s stock after purchasing an additional 1,678 shares during the quarter. Quarry LP’s holdings in AES were worth $295,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AES. Envestnet Asset Management Inc. grew its stake in shares of AES by 15.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock valued at $10,330,000 after buying an additional 91,247 shares during the period. Point72 Asset Management L.P. grew its position in AES by 5.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,783,800 shares of the utilities provider’s stock worth $72,838,000 after acquiring an additional 204,448 shares during the period. Lazard Asset Management LLC increased its stake in AES by 370.1% during the third quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock worth $1,770,000 after acquiring an additional 91,749 shares during the last quarter. Federated Hermes Inc. purchased a new stake in AES in the fourth quarter valued at $863,000. Finally, Quadrature Capital Ltd grew its holdings in shares of AES by 54.8% during the 3rd quarter. Quadrature Capital Ltd now owns 273,365 shares of the utilities provider’s stock worth $4,157,000 after purchasing an additional 96,808 shares during the period. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Trading Down 1.3 %

NYSE:AES opened at $19.34 on Friday. The stock has a fifty day moving average price of $19.20 and a 200 day moving average price of $17.97. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04. The AES Co. has a 12-month low of $11.43 and a 12-month high of $22.60. The firm has a market cap of $13.74 billion, a PE ratio of 26.86 and a beta of 1.11.

AES (NYSE:AES) last issued its earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. AES had a net margin of 4.40% and a return on equity of 36.23%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Sell-side analysts anticipate that The AES Co. will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Argus restated a “buy” rating and issued a $25.00 price objective on shares of AES in a report on Tuesday, March 26th. Mizuho upped their price objective on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price on shares of AES in a report on Monday, March 25th. UBS Group decreased their price target on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Finally, Seaport Res Ptn cut AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.50.

AES 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.