Quadrant Capital Group LLC Acquires 921 Shares of The AES Co. (NYSE:AES)

Posted by on Jun 4th, 2023

Quadrant Capital Group LLC lifted its position in The AES Co. (NYSE:AES – Get Rating) by 29.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,099 shares of the utilities provider’s stock after buying an additional 921 shares during the period. Quadrant Capital Group LLC’s holdings in AES were worth $118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollow Brook Wealth Management LLC purchased a new stake in AES during the fourth quarter valued at approximately $1,996,000. Ontario Teachers Pension Plan Board purchased a new position in shares of AES during the fourth quarter valued at approximately $617,000. Bank of America Corp DE raised its stake in shares of AES by 1.8% during the fourth quarter. Bank of America Corp DE now owns 3,937,153 shares of the utilities provider’s stock valued at $113,233,000 after acquiring an additional 70,134 shares in the last quarter. Creative Planning raised its stake in shares of AES by 28.6% during the fourth quarter. Creative Planning now owns 30,195 shares of the utilities provider’s stock valued at $868,000 after acquiring an additional 6,717 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of AES by 6.9% during the fourth quarter. American International Group Inc. now owns 195,089 shares of the utilities provider’s stock valued at $5,611,000 after acquiring an additional 12,565 shares in the last quarter. Institutional investors own 95.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AES shares. StockNews.com downgraded AES from a “hold” rating to a “sell” rating in a research report on Saturday, May 20th. UBS Group lowered their price target on shares of AES from $30.00 to $27.00 in a report on Tuesday, May 9th. TheStreet lowered shares of AES from a “b-” rating to a “c” rating in a research note on Monday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 price target on shares of AES in a research report on Monday, March 6th. Finally, Morgan Stanley cut their price objective on shares of AES from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and a consensus target price of $30.30.

AES Price Performance

AES opened at $20.19 on Friday. The company has a market cap of $13.51 billion, a P/E ratio of -24.62, a P/E/G ratio of 1.31 and a beta of 0.95. The company has a 50 day moving average of $22.68 and a two-hundred day moving average of $25.28. The company has a quick ratio of 1.00, a current ratio of 1.13 and a debt-to-equity ratio of 6.23. The AES Co. has a 52-week low of $18.62 and a 52-week high of $29.89.

AES (NYSE:AES – Get Rating) last issued its earnings results on Friday, May 5th. The utilities provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). AES had a positive return on equity of 38.46% and a negative net margin of 3.59%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts expect that The AES Co. will post 1.73 earnings per share for the current year.

About AES

(Get Rating)

The AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU. The U.S.

Further Reading

Want to see what other hedge funds are holding AES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The AES Co. (NYSE:AES – Get Rating).

Institutional Ownership by Quarter for AES (NYSE:AES)

Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.