Nuveen Asset Management LLC Lowers Holdings in The AES Co. (NYSE:AES)

Nuveen Asset Management LLC cut its stake in The AES Co. (NYSE:AES) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,945,548 shares of the utilities provider’s stock after selling 147,565 shares during the period. Nuveen Asset Management LLC’s holdings in AES were worth $25,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp boosted its holdings in AES by 499.3% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 139,971 shares of the utilities provider’s stock valued at $1,801,000 after purchasing an additional 116,617 shares during the period. Maven Securities LTD purchased a new position in AES in the fourth quarter valued at $322,000. Mork Capital Management LLC purchased a new position in AES in the fourth quarter worth approximately $1,009,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AES by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,809 shares of the utilities provider’s stock worth $834,000 after acquiring an additional 2,908 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in AES by 18.4% in the fourth quarter. Lazard Asset Management LLC now owns 238,502 shares of the utilities provider’s stock worth $3,069,000 after acquiring an additional 37,034 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of AES from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $10.00 to $9.00 in a research note on Tuesday. Citigroup decreased their price target on AES from $23.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 9th. Susquehanna reduced their price objective on shares of AES from $16.00 to $15.00 and set a “positive” rating for the company in a research report on Wednesday, March 5th. HSBC reduced their price objective on shares of AES from $15.00 to $14.00 in a research report on Monday, May 5th. Finally, Wells Fargo & Company boosted their target price on AES from $108.00 to $112.00 in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AES currently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

AES Stock Down 4.6%

AES opened at $9.66 on Friday. The business has a 50 day moving average price of $11.16 and a two-hundred day moving average price of $11.84. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The company has a market cap of $6.88 billion, a PE ratio of 6.71, a P/E/G ratio of 0.82 and a beta of 0.94. The AES Co. has a 52 week low of $9.46 and a 52 week high of $22.21.

AES (NYSE:AES) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.10). The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $3.13 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, research analysts anticipate that The AES Co. will post 1.93 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.