The AES Co. (NYSE:AES) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in The AES Co. (NYSE:AES) by 17.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,253 shares of the utilities provider’s stock after purchasing an additional 2,744 shares during the quarter. HB Wealth Management LLC’s holdings in AES were worth $327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AES. Global Retirement Partners LLC boosted its holdings in shares of AES by 18.0% in the 4th quarter. Global Retirement Partners LLC now owns 4,378 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 668 shares during the last quarter. Concourse Financial Group Securities Inc. grew its holdings in AES by 13.0% during the fourth quarter. Concourse Financial Group Securities Inc. now owns 7,008 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 806 shares during the period. Private Trust Co. NA raised its position in AES by 68.8% during the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 1,088 shares in the last quarter. River Street Advisors LLC boosted its position in AES by 7.8% in the 1st quarter. River Street Advisors LLC now owns 16,002 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Glassman Wealth Services increased its holdings in shares of AES by 186.1% during the 4th 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. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays boosted their price objective on AES from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, June 25th. Mizuho raised their target price on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. UBS Group lowered their price target on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price target on shares of AES in a research report on Monday, March 25th. Finally, Argus reiterated a “buy” rating and issued a $25.00 price objective on shares of AES in a research report on Tuesday, March 26th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.88.

AES Stock Down 1.5 %

AES stock traded down $0.27 during midday trading on Friday, reaching $17.62. The company’s stock had a trading volume of 2,479,499 shares, compared to its average volume of 8,194,229. The business has a 50-day simple moving average of $19.61 and a 200-day simple moving average of $17.99. The company has a market cap of $12.52 billion, a P/E ratio of 24.85 and a beta of 1.08. The AES Co. has a fifty-two week low of $11.43 and a fifty-two week high of $22.60. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04.

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