Envestnet Portfolio Solutions Inc. Has $6.75 Million Stake in The AES Corporation (NYSE:AES)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of The AES Corporation (NYSE:AES - Free Report) by 2,502.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 543,580 shares of the utilities provider's stock after buying an additional 522,696 shares during the quarter. Envestnet Portfolio Solutions Inc. owned about 0.08% of AES worth $6,751,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd acquired a new position in AES during the fourth quarter worth $489,000. RWC Asset Management LLP acquired a new position in AES during the fourth quarter worth $4,762,000. Community Trust & Investment Co. increased its position in AES by 37.4% during the first quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider's stock worth $3,619,000 after buying an additional 79,355 shares during the last quarter. Bank of New York Mellon Corp increased its position in AES by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 4,756,831 shares of the utilities provider's stock worth $61,220,000 after buying an additional 249,486 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in AES by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,879,259 shares of the utilities provider's stock worth $88,536,000 after buying an additional 185,020 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on AES. Wells Fargo & Company increased their target price on shares of AES from $108.00 to $112.00 in a research report on Friday, May 2nd. Seaport Res Ptn downgraded AES from a "hold" rating to a "strong sell" rating in a research report on Monday, March 3rd. Jefferies Financial Group downgraded AES from a "hold" rating to an "underperform" rating and lowered their price target for the company from $10.00 to $9.00 in a research report on Tuesday, May 20th. Mizuho lowered their price target on AES from $16.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Finally, Wall Street Zen downgraded AES from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Three 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

AES Stock Performance

Shares of NYSE AES traded down $0.11 during mid-day trading on Friday, hitting $10.42. The company had a trading volume of 18,135,665 shares, compared to its average volume of 13,016,885. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.84 and a quick ratio of 0.78. The business's 50-day simple moving average is $10.62 and its 200-day simple moving average is $11.42. The AES Corporation has a 12 month low of $9.46 and a 12 month high of $20.30. The firm has a market cap of $7.41 billion, a P/E ratio of 5.66, a PEG ratio of 1.41 and a beta of 0.96.

AES (NYSE:AES - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share 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 company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The firm's quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts predict that The AES Corporation will post 1.93 earnings per share for the current fiscal 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.