Bangor Savings Bank Makes New Investment in The AES Co. (NYSE:AES)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC lifted its stake in AES by 9.4% during the first quarter. SeaCrest Wealth Management LLC now owns 21,242 shares of the utilities provider's stock worth $264,000 after purchasing an additional 1,818 shares during the last quarter. Avity Investment Management Inc. bought a new stake in AES during the first quarter worth $1,242,000. Diligent Investors LLC lifted its stake in AES by 11.5% during the first quarter. Diligent Investors LLC now owns 16,419 shares of the utilities provider's stock worth $204,000 after purchasing an additional 1,700 shares during the last quarter. Portside Wealth Group LLC lifted its stake in AES by 27.2% during the first quarter. Portside Wealth Group LLC now owns 71,322 shares of the utilities provider's stock worth $918,000 after purchasing an additional 15,271 shares during the last quarter. Finally, Viking Fund Management LLC increased its holdings in shares of AES by 186.4% during the first quarter. Viking Fund Management LLC now owns 630,000 shares of the utilities provider's stock worth $7,825,000 after buying an additional 410,000 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors.

AES Stock Performance

Shares of AES stock opened at $10.90 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The AES Co. has a twelve month low of $9.46 and a twelve month high of $20.63. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 0.82 and a beta of 0.96. The company's fifty day moving average is $10.60 and its 200 day moving average is $11.53.

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

Analyst Upgrades and Downgrades

AES has been the subject of several research analyst reports. Susquehanna lowered their price target on shares of AES from $16.00 to $15.00 and set a "positive" rating for the company in a report on Wednesday, March 5th. Citigroup lowered their price target on shares of AES from $23.00 to $14.00 and set a "buy" rating for the company in a report on Friday, May 9th. Mizuho lowered their price target on shares of AES from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Wall Street Zen downgraded shares of AES from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Seaport Res Ptn downgraded shares of AES from a "hold" rating to a "strong sell" rating in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.22.

AES Company 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.

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