Riverview Trust Co Invests $33,000 in The AES Co. (NYSE:AES)

Riverview Trust Co bought a new position in The AES Co. (NYSE:AES) during the first quarter, Holdings Channel reports. The firm bought 1,851 shares of the utilities provider’s stock, valued at approximately $33,000.

A number of other hedge funds have also recently modified their holdings of AES. Capital World Investors raised its holdings in AES by 76.9% in the 4th quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock worth $1,373,460,000 after purchasing an additional 31,009,718 shares during the period. Goldman Sachs Group Inc. raised its holdings in AES by 70.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock worth $124,008,000 after purchasing an additional 2,670,001 shares during the period. Capital International Investors raised its holdings in AES by 3.8% in the 4th quarter. Capital International Investors now owns 69,671,801 shares of the utilities provider’s stock worth $1,341,277,000 after purchasing an additional 2,537,128 shares during the period. Verition Fund Management LLC raised its holdings in AES by 1,635.8% in the 4th quarter. Verition Fund Management LLC now owns 1,496,930 shares of the utilities provider’s stock worth $28,816,000 after purchasing an additional 1,410,689 shares during the period. Finally, Electron Capital Partners LLC raised its holdings in AES by 9.3% in the 3rd quarter. Electron Capital Partners LLC now owns 8,060,064 shares of the utilities provider’s stock worth $122,513,000 after purchasing an additional 686,719 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $18.90 on Wednesday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The business has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $18.02. The firm has a market capitalization of $13.43 billion, a PE ratio of 26.25 and a beta of 1.11. The AES Co. has a 1 year low of $11.43 and a 1 year high of $22.60.

AES (NYSE:AES) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.20 billion. AES had a return on equity of 36.23% and a net margin of 4.40%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts anticipate that The AES Co. will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AES shares. Argus reaffirmed a “buy” rating and issued a $25.00 price target on shares of AES in a report on Tuesday, March 26th. Mizuho upped their price target on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Barclays increased their target price on AES from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group reduced their target price on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $25.00 target price on shares of AES in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.88.

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.