The AES Corporation $AES Position Lifted by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lifted its stake in shares of The AES Corporation (NYSE:AES) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,898,342 shares of the utilities provider’s stock after acquiring an additional 1,002,530 shares during the period. AES accounts for approximately 3.1% of Sound Shore Management Inc. CT’s portfolio, making the stock its 10th biggest position. Sound Shore Management Inc. CT owned about 0.97% of AES worth $98,922,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AES by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock worth $854,000 after acquiring an additional 3,936 shares during the period. Jones Financial Companies Lllp raised its holdings in AES by 259.7% in the 1st quarter. Jones Financial Companies Lllp now owns 54,407 shares of the utilities provider’s stock valued at $675,000 after buying an additional 39,283 shares during the period. United Services Automobile Association purchased a new stake in AES in the 1st quarter valued at about $190,000. Empowered Funds LLC raised its holdings in AES by 763.3% in the 1st quarter. Empowered Funds LLC now owns 146,851 shares of the utilities provider’s stock valued at $1,824,000 after buying an additional 129,841 shares during the period. Finally, Woodline Partners LP raised its holdings in AES by 40.7% in the 1st quarter. Woodline Partners LP now owns 60,072 shares of the utilities provider’s stock valued at $746,000 after buying an additional 17,372 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AES shares. Argus lowered shares of AES from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price objective (down from $23.00) on shares of AES in a report on Friday, March 6th. Mizuho lowered shares of AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of AES in a report on Monday. Finally, Wall Street Zen upgraded shares of AES from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.63.

AES Stock Performance

NYSE AES opened at $14.71 on Thursday. The company has a market cap of $10.49 billion, a P/E ratio of 7.86 and a beta of 0.96. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.73 and a quick ratio of 0.65. The stock has a 50-day moving average of $14.43 and a two-hundred day moving average of $14.52. The AES Corporation has a 1-year low of $10.02 and a 1-year high of $17.65.

AES (NYSE:AES) last released its earnings results on Monday, March 2nd. The utilities provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.07 billion. AES had a return on equity of 22.66% and a net margin of 10.78%.During the same period in the previous year, the company posted $0.54 EPS. As a group, analysts anticipate that The AES Corporation will post 2.27 EPS for the current year.

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.