The AES Corporation (NYSE:AES) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in The AES Corporation (NYSE:AES - Free Report) by 98.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,546 shares of the utilities provider's stock after selling 1,994,810 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in AES were worth $441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SRS Capital Advisors Inc. boosted its position in AES by 190.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 1,581 shares in the last quarter. Optiver Holding B.V. boosted its position in shares of AES by 79.5% in the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock worth $35,000 after purchasing an additional 1,201 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of AES in the 1st quarter worth $35,000. CVA Family Office LLC boosted its position in shares of AES by 200.6% in the 1st quarter. CVA Family Office LLC now owns 3,250 shares of the utilities provider's stock worth $40,000 after purchasing an additional 2,169 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of AES by 760.4% in the 4th quarter. McIlrath & Eck LLC now owns 3,347 shares of the utilities provider's stock worth $43,000 after purchasing an additional 2,958 shares in the last quarter. Institutional investors own 93.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AES. Citigroup lowered their price objective on AES from $23.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Argus reissued a "hold" rating on shares of AES in a research report on Tuesday, May 27th. Jefferies Financial Group cut AES from a "hold" rating to an "underperform" rating and lowered their price objective for the stock from $10.00 to $9.00 in a research report on Tuesday, May 20th. HSBC reduced their target price on AES from $15.00 to $14.00 in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded AES from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

AES Stock Performance

Shares of AES stock traded up $0.34 on Friday, hitting $11.47. The company had a trading volume of 13,837,893 shares, compared to its average volume of 13,284,300. The firm has a market cap of $8.17 billion, a P/E ratio of 6.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95. The company has a 50-day moving average price of $10.76 and a 200-day moving average price of $11.23. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 3.42. The AES Corporation has a twelve month low of $9.46 and a twelve month high of $20.30.

AES (NYSE:AES - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.13 billion. AES had a net margin of 10.67% and a return on equity of 18.06%. The business's quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. As a group, equities research analysts predict that The AES Corporation will post 1.93 earnings per share 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.