Evercore Wealth Management LLC Has $393,000 Stock Position in The AES Co. (NYSE:AES)

Evercore Wealth Management LLC cut its stake in shares of The AES Co. (NYSE:AESFree Report) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,406 shares of the utilities provider’s stock after selling 2,255 shares during the period. Evercore Wealth Management LLC’s holdings in AES were worth $393,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Glassman Wealth Services grew its stake in AES by 186.1% in the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 1,254 shares during the period. Private Trust Co. NA lifted its holdings 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 in the last quarter. Principal Securities Inc. bought a new stake in AES during the fourth quarter worth about $57,000. Allworth Financial LP raised its holdings in AES by 133.7% during the fourth quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in AES by 267.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 2,611 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AES. Barclays dropped their target price on AES from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. UBS Group decreased their target price on 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 issued a $25.00 target price on shares of AES in a research report on Monday, March 25th. Argus reissued a “buy” rating and set a $25.00 price target on shares of AES in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of AES in a research report on Tuesday, April 9th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

Get Our Latest Analysis on AES

AES Stock Down 2.4 %

Shares of AES opened at $19.87 on Monday. The AES Co. has a 52 week low of $11.43 and a 52 week high of $22.60. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 27.60 and a beta of 1.11. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. The stock has a fifty day moving average of $19.03 and a 200-day moving average of $17.88.

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

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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