Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in The AES Corporation (NYSE:AES)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of The AES Corporation (NYSE:AES) by 15.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,759 shares of the utilities provider’s stock after buying an additional 11,585 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AES were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Community Trust & Investment Co. boosted its position in shares of AES by 37.4% during the first quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider’s stock worth $3,619,000 after buying an additional 79,355 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of AES by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider’s stock worth $88,536,000 after buying an additional 185,020 shares during the period. Perigon Wealth Management LLC boosted its position in shares of AES by 141.0% during the first quarter. Perigon Wealth Management LLC now owns 66,841 shares of the utilities provider’s stock worth $830,000 after buying an additional 39,107 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in AES by 23.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 689,534 shares of the utilities provider’s stock valued at $8,564,000 after purchasing an additional 129,782 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. purchased a new position in AES in the fourth quarter valued at $4,936,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Stock Up 3.0%

Shares of NYSE AES opened at $11.47 on Friday. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.84 and a quick ratio of 0.78. The business has a 50-day moving average of $10.76 and a two-hundred day moving average of $11.24. The AES Corporation has a 1 year low of $9.46 and a 1 year high of $20.30.

AES (NYSE:AES) last posted its 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). AES had a return on equity of 18.06% and a net margin of 10.67%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts forecast that The AES Corporation will post 1.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AES has been the subject of a number of recent research reports. Jefferies Financial Group lowered AES from a “hold” rating to an “underperform” rating and decreased their target price for the company from $10.00 to $9.00 in a report on Tuesday, May 20th. Wells Fargo & Company lifted their target price on AES from $108.00 to $112.00 in a report on Friday, May 2nd. Wall Street Zen lowered AES from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. decreased their target price on AES from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Finally, Citigroup decreased their target price on AES from $23.00 to $14.00 and set a “buy” rating for the company in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

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.