Electron Capital Partners LLC cut its position in shares of AES Corp (NYSE:AES) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 626,740 shares of the utilities provider’s stock after selling 15,677 shares during the period. AES comprises 1.1% of Electron Capital Partners LLC’s investment portfolio, making the stock its 20th largest position. Electron Capital Partners LLC’s holdings in AES were worth $6,788,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of AES. Trilogy Capital Inc. acquired a new position in shares of AES during the 4th quarter valued at $135,000. Cypress Capital Group bought a new stake in shares of AES during the 3rd quarter worth $138,000. Beacon Investment Advisory Services Inc. bought a new stake in shares of AES during the 4th quarter worth $142,000. Buckley Wealth Management LLC bought a new stake in shares of AES during the 4th quarter worth $163,000. Finally, Koch Industries Inc. bought a new stake in shares of AES during the 4th quarter worth $186,000. Institutional investors own 93.45% of the company’s stock.
AES has been the subject of several research reports. Bank of America raised AES from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, November 13th. ValuEngine raised AES from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Morgan Stanley reduced their price objective on AES from $14.00 to $12.50 and set an “equal weight” rating for the company in a research note on Wednesday, December 13th. UBS Group initiated coverage on AES in a research note on Friday, February 2nd. They set a “neutral” rating and a $12.00 price objective for the company. Finally, SunTrust Banks set a $14.00 price objective on AES and gave the stock a “buy” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.42.
AES (NYSE:AES) last issued its earnings results on Tuesday, February 27th. The utilities provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $3.47 billion. AES had a positive return on equity of 16.52% and a negative net margin of 8.77%. AES’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. research analysts expect that AES Corp will post 1.18 EPS for the current year.
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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