The AES Co. (NYSE:AES) Position Boosted by Credit Suisse AG

Posted by on Jun 8th, 2023

Credit Suisse AG lifted its position in The AES Co. (NYSE:AES – Get Rating) by 37.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 767,972 shares of the utilities provider’s stock after acquiring an additional 211,057 shares during the quarter. Credit Suisse AG owned approximately 0.11% of AES worth $22,087,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in AES by 12.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 51,262 shares of the utilities provider’s stock valued at $1,319,000 after buying an additional 5,594 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in AES by 9.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 91,659 shares of the utilities provider’s stock worth $2,358,000 after acquiring an additional 7,975 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in AES by 1.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 309,233 shares of the utilities provider’s stock worth $8,291,000 after acquiring an additional 3,755 shares during the last quarter. Yousif Capital Management LLC lifted its stake in AES by 2.1% in the first quarter. Yousif Capital Management LLC now owns 110,543 shares of the utilities provider’s stock valued at $2,844,000 after buying an additional 2,285 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in AES by 24.2% in the first quarter. Cibc World Market Inc. now owns 22,300 shares of the utilities provider’s stock valued at $574,000 after buying an additional 4,351 shares in the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

AES Trading Up 2.7 %

Shares of AES stock opened at $20.68 on Thursday. The stock has a fifty day moving average price of $22.51 and a 200-day moving average price of $25.12. The AES Co. has a 1 year low of $18.62 and a 1 year high of $29.89. The firm has a market cap of $13.84 billion, a PE ratio of -25.22, a P/E/G ratio of 1.33 and a beta of 0.95. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.13 and a quick ratio of 1.00.

AES (NYSE:AES – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). AES had a negative net margin of 3.59% and a positive return on equity of 38.46%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts anticipate that The AES Co. will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About AES

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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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