Marcum Wealth LLC acquired a new stake in The AES Co. (NYSE:AES – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,468 shares of the utilities provider’s stock, valued at approximately $130,000.
Several other hedge funds have also bought and sold shares of the stock. SRS Capital Advisors Inc. lifted its holdings in shares of AES by 190.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 1,581 shares during the last quarter. Optiver Holding B.V. lifted its holdings in shares of AES by 79.5% in the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 1,201 shares during the last quarter. WR Wealth Planners LLC lifted its holdings in shares of AES by 93.3% in the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,369 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of AES by 760.4% in the fourth quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider’s stock worth $43,000 after buying an additional 2,958 shares during the period. Finally, Covestor Ltd increased its stake in shares of AES by 601.5% in the fourth quarter. Covestor Ltd now owns 5,745 shares of the utilities provider’s stock worth $74,000 after buying an additional 4,926 shares during the period. 93.13% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently commented on AES shares. Seaport Res Ptn downgraded shares of AES from a “hold” rating to a “strong sell” rating in a research note on Monday, March 3rd. Jefferies Financial Group downgraded shares of AES from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $10.00 to $9.00 in a research note on Tuesday, May 20th. Citigroup reduced their price objective on shares of AES from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company boosted their price objective on shares of AES from $108.00 to $112.00 in a research report on Friday, May 2nd. Finally, HSBC reduced their price objective on shares of AES from $15.00 to $14.00 in a research report on Monday, May 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.
AES Stock Up 0.4%
Shares of NYSE:AES opened at $10.09 on Friday. The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $11.67. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.82 and a beta of 0.94. The AES Co. has a 12-month low of $9.46 and a 12-month high of $22.21. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21.
AES (NYSE:AES – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.10). The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.13 billion. AES had a return on equity of 27.30% and a net margin of 8.34%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, research analysts anticipate that The AES Co. will post 1.93 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.
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