SeaCrest Wealth Management LLC Boosts Stake in The AES Co. (NYSE:AES)

SeaCrest Wealth Management LLC increased its holdings in The AES Co. (NYSE:AES) by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,927 shares of the utilities provider’s stock after purchasing an additional 2,777 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in AES were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AES. Riverview Trust Co acquired a new position in shares of AES during the 1st quarter worth approximately $33,000. Glassman Wealth Services lifted its holdings in AES by 186.1% during the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,254 shares in the last quarter. Private Trust Co. NA grew its position in shares of AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 1,088 shares during the period. Principal Securities Inc. purchased a new stake in shares of AES during the fourth quarter worth about $57,000. Finally, Allworth Financial LP lifted its stake in AES by 133.7% in the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock valued at $60,000 after buying an additional 1,779 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Price Performance

AES stock opened at $17.54 on Wednesday. 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 stock has a market cap of $12.47 billion, a P/E ratio of 24.36 and a beta of 1.09. The company has a 50-day moving average price of $19.58 and a 200 day moving average price of $18.00. The AES Co. has a 12-month low of $11.43 and a 12-month high of $22.60.

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

Wall Street Analyst Weigh In

Several research firms have commented on AES. Barclays boosted their price objective on AES from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. 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 target price on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. UBS Group decreased their price target on shares of 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 shares of 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, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, AES currently has an average rating of “Moderate Buy” and an average 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.