The AES Corporation (NYSE:AES) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in The AES Corporation (NYSE:AES) by 15.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 85,759 shares of the utilities provider’s stock after purchasing an additional 11,585 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AES were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Phillips Wealth Planners LLC increased its position in AES by 127.6% in the 1st quarter. Phillips Wealth Planners LLC now owns 23,746 shares of the utilities provider’s stock valued at $295,000 after acquiring an additional 13,312 shares during the period. Perigon Wealth Management LLC increased its position in AES by 141.0% in the 1st quarter. Perigon Wealth Management LLC now owns 66,841 shares of the utilities provider’s stock valued at $830,000 after acquiring an additional 39,107 shares during the period. Bessemer Group Inc. increased its position in AES by 73.8% in the 1st quarter. Bessemer Group Inc. now owns 15,035 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 6,385 shares during the period. International Assets Investment Management LLC increased its position in AES by 137.3% in the 1st quarter. International Assets Investment Management LLC now owns 59,068 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 34,178 shares during the period. Finally, Legacy Advisors LLC acquired a new position in AES in the 1st quarter valued at about $162,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Stock Performance

AES opened at $11.47 on Friday. The stock has a market cap of $8.17 billion, a P/E ratio of 6.23, a P/E/G ratio of 1.54 and a beta of 0.95. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.84 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $10.76 and its 200 day simple moving average is $11.24. The AES Corporation has a 1-year low of $9.46 and a 1-year high of $20.30.

AES (NYSE:AES) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.10). The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.13 billion. AES had a return on equity of 18.06% and a net margin of 10.67%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, equities analysts anticipate that The AES Corporation will post 1.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on AES from $108.00 to $112.00 in a research report on Friday, May 2nd. Wall Street Zen lowered AES from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Jefferies Financial Group lowered AES from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $10.00 to $9.00 in a report on Tuesday, May 20th. HSBC lowered their price objective on AES from $15.00 to $14.00 in a report on Monday, May 5th. Finally, Citigroup lowered their price objective on AES from $23.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

About AES

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.