Alaska Permanent Fund Corp Increases Position in The AES Co. (NYSE:AES)

Alaska Permanent Fund Corp lifted its position in The AES Co. (NYSE:AES) by 357.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,742 shares of the utilities provider’s stock after purchasing an additional 79,486 shares during the period. Alaska Permanent Fund Corp’s holdings in AES were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AES. DekaBank Deutsche Girozentrale increased its stake in shares of AES by 29.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 65,837 shares of the utilities provider’s stock worth $978,000 after purchasing an additional 14,966 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of AES by 39.2% during the third quarter. Kestra Advisory Services LLC now owns 18,682 shares of the utilities provider’s stock worth $284,000 after acquiring an additional 5,259 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of AES by 11.5% during the third quarter. Rafferty Asset Management LLC now owns 68,249 shares of the utilities provider’s stock worth $1,037,000 after acquiring an additional 7,049 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of AES during the third quarter worth $1,761,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of AES by 15.5% during the third quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock worth $10,330,000 after acquiring an additional 91,247 shares during the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AES. Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Argus restated a “buy” rating and set a $25.00 target price on shares of AES in a research report on Tuesday, March 26th. UBS Group dropped their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Mizuho increased their target price on shares of AES from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $25.00 target price on shares of AES in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.50.

AES Trading Down 0.5 %

AES stock opened at $18.86 on Friday. The company has a market capitalization of $13.40 billion, a PE ratio of 26.19 and a beta of 1.11. The AES Co. has a 12 month low of $11.43 and a 12 month high of $22.60. The firm’s 50-day moving average is $19.27 and its 200 day moving average is $18.01. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.20 billion. AES had a net margin of 4.40% and a return on equity of 36.23%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. On average, research analysts anticipate that The AES Co. will post 1.91 EPS for the current year.

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.