Retirement Systems of Alabama Has $1.90 Million Stock Position in The AES Corporation (NYSE:AES)

Retirement Systems of Alabama decreased its stake in The AES Corporation (NYSE:AES) by 0.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 152,795 shares of the utilities provider’s stock after selling 1,148 shares during the quarter. Retirement Systems of Alabama’s holdings in AES were worth $1,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AES. Envestnet Portfolio Solutions Inc. raised its stake in shares of AES by 2,502.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 543,580 shares of the utilities provider’s stock worth $6,751,000 after purchasing an additional 522,696 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of AES by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 83,328 shares of the utilities provider’s stock worth $1,034,000 after purchasing an additional 2,265 shares in the last quarter. Seed Wealth Management Inc. grew its holdings in shares of AES by 45.6% during the 1st quarter. Seed Wealth Management Inc. now owns 21,355 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 6,690 shares in the last quarter. Community Trust & Investment Co. boosted its stake in AES by 37.4% in the 1st quarter. Community Trust & Investment Co. now owns 291,418 shares of the utilities provider’s stock valued at $3,619,000 after buying an additional 79,355 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in AES by 65.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 163,526 shares of the utilities provider’s stock valued at $2,031,000 after buying an additional 64,577 shares in the last quarter. 93.13% of the stock is currently owned by institutional investors and hedge funds.

AES Price Performance

NYSE:AES opened at $10.83 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 3.42. The stock’s 50 day moving average price is $10.64 and its two-hundred day moving average price is $11.34. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 1.40 and a beta of 0.96. The AES Corporation has a 12-month low of $9.46 and a 12-month high of $20.30.

AES (NYSE:AES) last announced its 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 for the quarter, compared to the consensus estimate of $3.13 billion. AES had a return on equity of 18.06% and a net margin of 10.67%. AES’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, analysts anticipate that The AES Corporation will post 1.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on AES. Susquehanna reduced their price objective on AES from $16.00 to $15.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. Jefferies Financial Group downgraded AES from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $10.00 to $9.00 in a report on Tuesday, May 20th. Mizuho decreased their target price on AES from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Argus reissued a “hold” rating on shares of AES in a research note on Tuesday, May 27th. Finally, Bank of America raised AES from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, AES has an average rating of “Moderate Buy” and an average target price of $24.22.

AES Company Profile

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.