SG Americas Securities LLC decreased its stake in shares of The AES Corporation (NYSE:AES) by 79.4% during the first quarter, Holdings Channel reports. The firm owned 46,571 shares of the utilities provider’s stock after selling 179,342 shares during the period. SG Americas Securities LLC’s holdings in The AES Corporation were worth $521,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle Bank acquired a new position in shares of The AES Corporation during the first quarter valued at about $411,000. IFP Advisors Inc raised its position in shares of The AES Corporation by 94.0% in the first quarter. IFP Advisors Inc now owns 11,329 shares of the utilities provider’s stock valued at $127,000 after buying an additional 5,489 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of The AES Corporation by 2.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 12,304 shares of the utilities provider’s stock valued at $143,000 after buying an additional 294 shares during the period. Pacer Advisors Inc. raised its position in shares of The AES Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 13,437 shares of the utilities provider’s stock valued at $150,000 after buying an additional 402 shares during the period. Finally, Fulton Bank N.A. raised its position in shares of The AES Corporation by 5.3% in the first quarter. Fulton Bank N.A. now owns 15,391 shares of the utilities provider’s stock valued at $172,000 after buying an additional 780 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.
The AES Corporation (NYSE AES) opened at 11.56 on Friday. The firm’s 50 day moving average price is $11.58 and its 200 day moving average price is $11.50. The AES Corporation has a 12 month low of $10.93 and a 12 month high of $13.32. The stock’s market cap is $7.63 billion.
The AES Corporation (NYSE:AES) last posted its quarterly earnings results on Monday, May 8th. The utilities provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.03. The AES Corporation had a negative net margin of 9.27% and a positive return on equity of 14.71%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the company earned $0.15 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts predict that The AES Corporation will post $1.05 EPS for the current fiscal year.
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Several brokerages have issued reports on AES. BidaskClub upgraded The AES Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded The AES Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, Argus restated a “hold” rating on shares of The AES Corporation in a research report on Thursday, March 23rd. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The AES Corporation presently has an average rating of “Hold” and an average price target of $12.33.
About The AES Corporation
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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