New York State Teachers Retirement System Sells 71,129 Shares of The AES Corporation (NYSE:AES)

New York State Teachers Retirement System lessened its holdings in shares of The AES Corporation (NYSE:AES - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 658,473 shares of the utilities provider's stock after selling 71,129 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of AES worth $8,178,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Community Trust & Investment Co. raised its stake in shares of AES by 37.4% in the 1st quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider's stock valued at $3,619,000 after acquiring an additional 79,355 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of AES by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider's stock valued at $88,536,000 after purchasing an additional 185,020 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of AES by 141.0% in 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 last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of AES by 23.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 689,534 shares of the utilities provider's stock worth $8,564,000 after buying an additional 129,782 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new position in AES in the 4th quarter valued at $4,936,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AES has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of AES from $108.00 to $112.00 in a research note on Friday, May 2nd. Argus restated a "hold" rating on shares of AES in a research report on Tuesday, May 27th. Wall Street Zen downgraded shares of AES from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. HSBC decreased their price target on AES from $15.00 to $14.00 in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on AES from $16.00 to $14.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.22.

AES Stock Up 3.0%

NYSE:AES traded up $0.34 during trading hours on Friday, reaching $11.47. 13,837,893 shares of the stock were exchanged, compared to its average volume of 13,258,874. The stock has a market cap of $8.17 billion, a PE ratio of 6.23, a PEG ratio of 1.54 and a beta of 0.95. The AES Corporation has a twelve month low of $9.46 and a twelve month high of $20.30. The firm has a 50 day moving average of $10.76 and a 200 day moving average of $11.24. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.84 and a quick ratio of 0.78.

AES (NYSE:AES - Get Free Report) last issued its 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). 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 analyst estimates of $3.13 billion. During the same quarter last year, the business posted $0.60 earnings per share. The company's revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts expect that The AES Corporation will post 1.93 earnings per share for the current 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.