Gulf International Bank UK Ltd Reduces Holdings in The AES Co. (NYSE:AES)

Posted by on Jun 25th, 2023

Gulf International Bank UK Ltd reduced its holdings in shares of The AES Co. (NYSE:AES – Get Rating) by 21.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,296 shares of the utilities provider’s stock after selling 24,439 shares during the quarter. Gulf International Bank UK Ltd’s holdings in AES were worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CI Investments Inc. raised its stake in shares of AES by 2.0% during the third quarter. CI Investments Inc. now owns 18,395 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 366 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of AES by 2.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,959 shares of the utilities provider’s stock valued at $545,000 after purchasing an additional 378 shares during the period. Paragon Private Wealth Management LLC raised its stake in shares of AES by 1.7% during the fourth quarter. Paragon Private Wealth Management LLC now owns 22,358 shares of the utilities provider’s stock valued at $643,000 after purchasing an additional 383 shares during the period. Texas Permanent School Fund increased its stake in shares of AES by 0.4% in the fourth quarter. Texas Permanent School Fund now owns 93,588 shares of the utilities provider’s stock worth $2,692,000 after buying an additional 395 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in shares of AES by 10.0% in the fourth quarter. Sentry Investment Management LLC now owns 4,393 shares of the utilities provider’s stock worth $126,000 after buying an additional 398 shares during the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on AES shares. UBS Group dropped their price target on shares of AES from $30.00 to $27.00 in a research note 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. StockNews.com lowered shares of AES from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. Morgan Stanley dropped their price target on shares of AES from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 target price on shares of AES in a research note on Monday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, AES currently has a consensus rating of “Hold” and an average price target of $29.64.

AES Stock Performance

Shares of AES opened at $20.43 on Friday. The AES Co. has a 1 year low of $18.90 and a 1 year high of $29.89. The company has a market cap of $13.67 billion, a price-to-earnings ratio of -24.91, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.00 and a current ratio of 1.13. The firm has a fifty day moving average of $21.63 and a 200-day moving average of $24.49.

AES (NYSE:AES – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.22 earnings per share (EPS) 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 firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the firm posted $0.21 EPS. The business’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that The AES Co. will post 1.73 earnings per share for the current year.

AES Profile

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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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