ProVise Management Group LLC Increases Stock Holdings in AES Corp (NYSE:AES)

ProVise Management Group LLC raised its stake in shares of AES Corp (NYSE:AES) by 69.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,083 shares of the utilities provider’s stock after acquiring an additional 8,255 shares during the quarter. ProVise Management Group LLC’s holdings in AES were worth $363,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AES. Vanguard Group Inc raised its holdings in AES by 6.1% during the 3rd quarter. Vanguard Group Inc now owns 81,854,306 shares of the utilities provider’s stock worth $1,145,960,000 after purchasing an additional 4,727,278 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in AES by 1,769.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,851,301 shares of the utilities provider’s stock worth $335,000 after purchasing an additional 4,591,766 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in AES by 361.8% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,673,591 shares of the utilities provider’s stock worth $66,418,000 after purchasing an additional 2,878,179 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AES by 40.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,478,822 shares of the utilities provider’s stock worth $99,056,000 after purchasing an additional 1,582,707 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of AES by 94.8% during the 4th quarter. American Century Companies Inc. now owns 3,187,343 shares of the utilities provider’s stock worth $46,089,000 after buying an additional 1,550,783 shares during the period. 93.43% of the stock is owned by institutional investors.

In related news, insider Jeffrey W. Ubben acquired 2,582,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $16.10 per share, for a total transaction of $41,570,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey W. Ubben acquired 2,482,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were bought at an average price of $16.11 per share, for a total transaction of $39,985,020.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.

Shares of AES traded up $0.22 on Friday, hitting $16.76. The company’s stock had a trading volume of 6,924,602 shares, compared to its average volume of 5,147,296. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.06. The business has a fifty day moving average of $16.47. The company has a quick ratio of 1.21, a current ratio of 1.34 and a debt-to-equity ratio of 3.27. AES Corp has a fifty-two week low of $12.55 and a fifty-two week high of $18.52.

AES (NYSE:AES) last released its earnings results on Tuesday, May 7th. The utilities provider reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.47 billion. AES had a net margin of 6.32% and a return on equity of 19.05%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. Sell-side analysts expect that AES Corp will post 1.33 EPS for the current year.

Several equities analysts have recently issued reports on the company. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and set a $16.57 target price for the company in a research report on Thursday, June 20th. Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, June 4th. Finally, Argus upgraded AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.02.

AES Company Profile

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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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Institutional Ownership by Quarter for AES (NYSE:AES)

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