Pinebridge Investments L.P. Sells 46,185 Shares of The AES Co. (NYSE:AES)

Pinebridge Investments L.P. lowered its stake in The AES Co. (NYSE:AESFree Report) by 45.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 55,293 shares of the utilities provider’s stock after selling 46,185 shares during the quarter. Pinebridge Investments L.P.’s holdings in AES were worth $1,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Keybank National Association OH purchased a new position in shares of AES in the third quarter valued at about $165,000. Amalgamated Bank increased its holdings in AES by 5.6% during the 3rd quarter. Amalgamated Bank now owns 182,410 shares of the utilities provider’s stock valued at $2,773,000 after purchasing an additional 9,638 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in AES by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,728,296 shares of the utilities provider’s stock worth $87,070,000 after buying an additional 140,149 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of AES by 47.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 61,690 shares of the utilities provider’s stock worth $938,000 after buying an additional 19,905 shares during the last quarter. Finally, Pathstone Family Office LLC raised its holdings in shares of AES by 257.8% during the third quarter. Pathstone Family Office LLC now owns 37,823 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 27,253 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Trading Down 2.4 %

NYSE AES opened at $19.87 on Friday. The stock’s fifty day moving average price is $19.03 and its 200-day moving average price is $17.87. 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 $14.12 billion, a P/E ratio of 27.60 and a beta of 1.11. The AES Co. has a 12 month low of $11.43 and a 12 month high of $22.60.

AES (NYSE:AESGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 earnings per share 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 net margin of 4.40% and a return on equity of 36.23%. AES’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. As a group, equities analysts forecast that The AES Co. will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

AES has been the topic of a number of research analyst reports. Barclays reduced their price objective on shares of AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Seaport Res Ptn downgraded shares of AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price objective on shares of AES in a research report on Monday, March 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Finally, Argus restated a “buy” rating and set a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.50.

View Our Latest Stock Analysis on AES

About AES

(Free Report)

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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Institutional Ownership by Quarter for AES (NYSE:AES)

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