State of Alaska Department of Revenue Grows Holdings in The AES Corporation (NYSE:AES)

State of Alaska Department of Revenue grew its holdings in shares of The AES Corporation (NYSE:AES) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,328 shares of the utilities provider’s stock after buying an additional 2,265 shares during the quarter. State of Alaska Department of Revenue’s holdings in AES were worth $1,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AES. SRS Capital Advisors Inc. lifted its stake in AES by 190.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 1,581 shares during the last quarter. Optiver Holding B.V. lifted its stake in AES by 79.5% during the fourth quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,201 shares during the last quarter. WR Wealth Planners LLC lifted its stake in AES by 93.3% during the fourth quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,369 shares during the last quarter. CVA Family Office LLC lifted its stake in AES by 200.6% during the first quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 2,169 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its stake in AES by 760.4% during the fourth quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 2,958 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AES shares. JPMorgan Chase & Co. reduced their price objective on AES from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Susquehanna dropped their target price on AES from $16.00 to $15.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. Wall Street Zen lowered AES from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Jefferies Financial Group lowered AES from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $10.00 to $9.00 in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company increased their target price on AES from $108.00 to $112.00 in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AES presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

AES Price Performance

Shares of AES opened at $10.83 on Friday. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 5.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.78 and a current ratio of 0.84. The AES Corporation has a one year low of $9.46 and a one year high of $20.30. The stock’s fifty day moving average is $10.64 and its 200-day moving average is $11.34.

AES (NYSE:AES) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.10). The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.13 billion. AES had a net margin of 10.67% and a return on equity of 18.06%. AES’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. Equities analysts anticipate that The AES Corporation will post 1.93 EPS for the current year.

About AES

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.