Assenagon Asset Management S.A. Raises Stock Holdings in The AES Co. (NYSE:AES)

Assenagon Asset Management S.A. grew its stake in The AES Co. (NYSE:AES – Free Report) by 2,733.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 560,782 shares of the utilities provider’s stock after buying an additional 540,988 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of AES worth $13,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. CI Investments Inc. grew its position 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 worth $416,000 after purchasing an additional 366 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position 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 worth $545,000 after purchasing an additional 378 shares in the last quarter. Paragon Private Wealth Management LLC grew its position 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 worth $643,000 after purchasing an additional 383 shares in the last quarter. Texas Permanent School Fund grew its position in shares of AES by 0.4% during the fourth quarter. Texas Permanent School Fund now owns 93,588 shares of the utilities provider’s stock worth $2,692,000 after purchasing an additional 395 shares in the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of AES by 10.0% during the fourth quarter. Sentry Investment Management LLC now owns 4,393 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

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AES Price Performance

NYSE:AES opened at $20.73 on Friday. The firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of -25.28, a PEG ratio of 1.33 and a beta of 0.95. The AES Co. has a 1 year low of $18.90 and a 1 year high of $29.89. The business has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $24.24. 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 – Free Report) last posted its quarterly earnings data 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 company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the business earned $0.21 earnings per share. AES’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts forecast that The AES Co. will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America cut AES from a “buy” rating to a “neutral” rating and cut their target price for the stock from $24.00 to $23.00 in a research report on Thursday, June 22nd. Royal Bank of Canada restated an “outperform” rating and set a $32.00 price target on shares of AES in a report on Monday, March 6th. UBS Group cut their price target on AES from $30.00 to $27.00 in a report on Tuesday, May 9th. Wolfe Research cut AES from an “outperform” rating to a “peer perform” rating in a report on Monday, April 17th. Finally, StockNews.com cut AES from a “hold” rating to a “sell” rating in a report on Saturday, May 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.64.

AES Profile

(Free Report)

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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