Bangor Savings Bank Purchases New Holdings in The AES Co. (NYSE:AES)

Bangor Savings Bank purchased a new stake in The AES Co. (NYSE:AES - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,216 shares of the utilities provider's stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of AES by 19.5% during the fourth quarter. FMR LLC now owns 49,173,626 shares of the utilities provider's stock worth $632,865,000 after purchasing an additional 8,027,426 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of AES by 35.7% during the fourth quarter. Ameriprise Financial Inc. now owns 28,571,119 shares of the utilities provider's stock valued at $367,499,000 after acquiring an additional 7,519,129 shares during the period. Geode Capital Management LLC boosted its holdings in AES by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 16,895,678 shares of the utilities provider's stock valued at $216,862,000 after acquiring an additional 381,761 shares during the last quarter. Invesco Ltd. increased its position in AES by 64.2% in the fourth quarter. Invesco Ltd. now owns 15,948,807 shares of the utilities provider's stock worth $205,261,000 after purchasing an additional 6,238,087 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in AES during the 4th quarter worth about $121,627,000. 93.13% of the stock is owned by institutional investors.

AES Stock Up 0.8%

Shares of AES stock traded up $0.09 on Thursday, hitting $11.57. The company had a trading volume of 18,361,255 shares, compared to its average volume of 12,732,092. The AES Co. has a twelve month low of $9.46 and a twelve month high of $20.63. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The stock has a 50-day moving average of $10.57 and a 200-day moving average of $11.52. The firm has a market capitalization of $8.24 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.82 and a beta of 0.96.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.10). The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.13 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The business's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Research analysts predict that The AES Co. will post 1.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

AES has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of AES from $16.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. HSBC dropped their target price on shares of AES from $15.00 to $14.00 in a research report on Monday, May 5th. Bank of America raised AES from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $11.00 to $13.00 in a research note on Tuesday, March 4th. Seaport Res Ptn lowered AES from a "hold" rating to a "strong sell" rating in a research note on Monday, March 3rd. Finally, Mizuho lowered their price target on AES from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

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.