Marcum Wealth LLC Makes New Investment in The AES Co. (NYSE:AES)

Marcum Wealth LLC purchased a new stake in shares of The AES Co. (NYSE:AESFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,383 shares of the utilities provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AES. Global Retirement Partners LLC grew its position in shares of AES by 18.0% in the 4th quarter. Global Retirement Partners LLC now owns 4,378 shares of the utilities provider’s stock worth $78,000 after buying an additional 668 shares during the period. Concourse Financial Group Securities Inc. increased its stake in shares of AES by 13.0% during the fourth quarter. Concourse Financial Group Securities Inc. now owns 7,008 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 806 shares in the last quarter. Private Trust Co. NA boosted its position in shares of AES by 68.8% in the 4th quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,088 shares in the last quarter. Glassman Wealth Services grew its stake in shares of AES by 186.1% in the 4th quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock worth $37,000 after buying an additional 1,254 shares during the last quarter. Finally, Arizona State Retirement System increased its position in AES by 0.8% during the 4th quarter. Arizona State Retirement System now owns 184,041 shares of the utilities provider’s stock valued at $3,543,000 after buying an additional 1,433 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

AES Trading Down 2.1 %

Shares of AES stock opened at $18.47 on Friday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The stock has a market capitalization of $13.13 billion, a PE ratio of 25.65 and a beta of 1.11. The AES Co. has a 1-year low of $11.43 and a 1-year high of $22.60. The company’s fifty day simple moving average is $19.31 and its 200-day simple moving average is $18.01.

AES (NYSE:AESGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.34 by $0.16. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.20 billion. AES had a return on equity of 36.23% and a net margin of 4.40%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. As a group, equities analysts anticipate that The AES Co. will post 1.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays reduced their price objective on shares of AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Argus reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AES in a research report on Tuesday, March 26th. UBS Group reduced their target price on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Mizuho upped their price target on AES from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of AES in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.50.

Get Our Latest Report on AES

AES Company Profile

(Free Report)

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.

See Also

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Institutional Ownership by Quarter for AES (NYSE:AES)

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