Oppenheimer Asset Management Inc. Boosts Stock Holdings in The AES Corporation (NYSE:AES)

Oppenheimer Asset Management Inc. boosted its stake in shares of The AES Corporation (NYSE:AES - Free Report) by 23.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 689,534 shares of the utilities provider's stock after acquiring an additional 129,782 shares during the period. Oppenheimer Asset Management Inc. owned 0.10% of AES worth $8,564,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AES. Point72 Asset Management L.P. purchased a new position in AES during the fourth quarter valued at $121,627,000. FMR LLC grew its stake in shares of AES by 19.5% in the 4th quarter. FMR LLC now owns 49,173,626 shares of the utilities provider's stock worth $632,865,000 after buying an additional 8,027,426 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of AES by 35.7% in the 4th quarter. Ameriprise Financial Inc. now owns 28,571,119 shares of the utilities provider's stock worth $367,499,000 after buying an additional 7,519,129 shares in the last quarter. Invesco Ltd. grew its stake in shares of AES by 64.2% in the 4th quarter. Invesco Ltd. now owns 15,948,807 shares of the utilities provider's stock worth $205,261,000 after buying an additional 6,238,087 shares in the last quarter. Finally, Sound Shore Management Inc. CT purchased a new position in shares of AES in the 4th quarter worth $69,083,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Trading Down 2.5%

Shares of AES opened at $10.15 on Tuesday. The AES Corporation has a 1-year low of $9.46 and a 1-year high of $20.30. The company has a 50-day moving average of $10.61 and a 200 day moving average of $11.37. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 1.39 and a beta of 0.96. 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 announced its quarterly earnings data 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 company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company's quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts expect that The AES Corporation will post 1.93 EPS for the current year.

Analysts Set New Price Targets

AES has been the subject of a number of recent research reports. Bank of America raised shares of 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. Susquehanna dropped their price objective on shares of AES from $16.00 to $15.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on shares of AES from $108.00 to $112.00 in a research note on Friday, May 2nd. HSBC lowered their target price on shares of AES from $15.00 to $14.00 in a report on Monday, May 5th. Finally, Argus restated a "hold" rating on shares of AES in a report on Tuesday, May 27th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock 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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