Miller Howard Investments Inc. NY Boosts Stock Position in The AES Corporation (NYSE:AES)

Miller Howard Investments Inc. NY grew its position in The AES Corporation (NYSE:AES - Free Report) by 23.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,942 shares of the utilities provider's stock after acquiring an additional 39,486 shares during the quarter. Miller Howard Investments Inc. NY's holdings in AES were worth $2,583,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AES. Point72 Asset Management L.P. acquired a new stake in shares of AES in the fourth quarter valued at approximately $121,627,000. FMR LLC boosted its holdings in shares of AES by 19.5% in the fourth quarter. FMR LLC now owns 49,173,626 shares of the utilities provider's stock valued at $632,865,000 after acquiring an additional 8,027,426 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of AES by 35.7% in 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. Invesco Ltd. boosted its holdings in shares of AES by 64.2% in the fourth quarter. Invesco Ltd. now owns 15,948,807 shares of the utilities provider's stock valued at $205,261,000 after acquiring an additional 6,238,087 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new stake in shares of AES in the fourth quarter valued at approximately $69,083,000. 93.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded AES from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. decreased their price target on AES from $16.00 to $14.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. HSBC decreased their price target on AES from $15.00 to $14.00 in a report on Monday, May 5th. Jefferies Financial Group downgraded AES from a "hold" rating to an "underperform" rating and decreased their price target for the stock from $10.00 to $9.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company increased their price target on AES from $108.00 to $112.00 in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

AES Price Performance

NYSE:AES traded up $0.34 during trading hours on Friday, hitting $11.47. The company's stock had a trading volume of 13,837,893 shares, compared to its average volume of 13,258,874. The AES Corporation has a 52-week low of $9.46 and a 52-week high of $20.30. The company has a market capitalization of $8.17 billion, a PE ratio of 6.23, a PEG ratio of 1.54 and a beta of 0.95. The business's 50-day moving average is $10.76 and its two-hundred day moving average is $11.24. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.78 and a current ratio of 0.84.

AES (NYSE:AES - Get Free Report) last announced 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 net margin of 10.67% and a return on equity of 18.06%. The firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the prior year, the business earned $0.60 EPS. The company's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that The AES Corporation will post 1.93 EPS for the current fiscal year.

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.