Perigon Wealth Management LLC Purchases 39,107 Shares of The AES Corporation (NYSE:AES)

Perigon Wealth Management LLC increased its stake in shares of The AES Corporation (NYSE:AES - Free Report) by 141.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,841 shares of the utilities provider's stock after buying an additional 39,107 shares during the period. Perigon Wealth Management LLC's holdings in AES were worth $830,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Yousif Capital Management LLC lifted its position in AES by 1.1% during the first quarter. Yousif Capital Management LLC now owns 94,686 shares of the utilities provider's stock valued at $1,176,000 after purchasing an additional 1,012 shares during the last quarter. Optiver Holding B.V. raised its holdings in AES by 79.5% during the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock valued at $35,000 after buying an additional 1,201 shares during the last quarter. WR Wealth Planners LLC raised its holdings in AES by 93.3% during the 4th quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider's stock valued at $37,000 after buying an additional 1,369 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in AES by 1.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 85,866 shares of the utilities provider's stock valued at $1,095,000 after buying an additional 1,382 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its holdings in AES by 11.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,082 shares of the utilities provider's stock valued at $181,000 after buying an additional 1,436 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AES shares. Susquehanna reduced their target price on shares of AES from $16.00 to $15.00 and set a "positive" rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group downgraded shares of AES from a "hold" rating to an "underperform" rating and cut their price objective for the company from $10.00 to $9.00 in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of AES from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Argus reissued a "hold" rating on shares of AES in a research report on Tuesday, May 27th. Finally, Seaport Res Ptn downgraded shares of AES from a "hold" rating to a "strong sell" rating in a research report on Monday, March 3rd. Three research 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

AES Stock Down 0.9%

NYSE:AES opened at $10.72 on Friday. The company's 50 day moving average is $10.65 and its two-hundred day moving average is $11.30. The company has a market cap of $7.63 billion, a PE ratio of 5.82, a P/E/G ratio of 1.43 and a beta of 0.96. The AES Corporation has a twelve month low of $9.46 and a twelve month high of $20.30. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 3.42.

AES (NYSE:AES - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.10). The company had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $3.13 billion. AES had a return on equity of 18.06% and a net margin of 10.67%. The company's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Analysts anticipate that The AES Corporation will post 1.93 EPS for the current year.

About AES

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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