Envestnet Asset Management Inc. Purchases 148,772 Shares of The AES Corporation (NYSE:AES)

Envestnet Asset Management Inc. grew its position in shares of The AES Corporation (NYSE:AES - Free Report) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,270,543 shares of the utilities provider's stock after purchasing an additional 148,772 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of AES worth $15,780,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AES. Proficio Capital Partners LLC purchased a new position in shares of AES during the 4th quarter valued at $402,000. AlphaQuest LLC grew its position in shares of AES by 18,047.1% during the 4th quarter. AlphaQuest LLC now owns 6,170 shares of the utilities provider's stock valued at $79,000 after purchasing an additional 6,136 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of AES by 6.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 44,558 shares of the utilities provider's stock valued at $573,000 after purchasing an additional 2,558 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of AES by 25.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 89,765 shares of the utilities provider's stock valued at $1,155,000 after purchasing an additional 18,157 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of AES by 4.0% during the 4th quarter. Natixis Advisors LLC now owns 68,459 shares of the utilities provider's stock valued at $881,000 after purchasing an additional 2,634 shares in the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

AES Trading Up 1.3%

NYSE AES traded up $0.17 during trading on Friday, hitting $13.36. 9,221,144 shares of the company's stock traded hands, compared to its average volume of 13,878,315. The stock has a fifty day moving average of $11.17 and a two-hundred day moving average of $11.22. 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 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 $9.51 billion, a P/E ratio of 7.26, a PEG ratio of 1.75 and a beta of 0.95.

AES (NYSE:AES - Get Free Report) last posted its quarterly 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 business had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business's quarterly revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts expect that The AES Corporation will post 1.93 EPS for the current year.

AES Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a dividend of $0.176 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.70 annualized dividend and a yield of 5.27%. AES's payout ratio is 38.04%.

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.