BI Asset Management Fondsmaeglerselskab A S Increases Stake in The AES Corporation $AES

BI Asset Management Fondsmaeglerselskab A S grew its stake in The AES Corporation (NYSE:AES) by 21.5% during the 4th quarter, HoldingsChannel reports. The firm owned 423,236 shares of the utilities provider’s stock after buying an additional 74,866 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in AES were worth $6,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AES. SG Americas Securities LLC grew its holdings in AES by 128.6% in the fourth quarter. SG Americas Securities LLC now owns 7,147,438 shares of the utilities provider’s stock valued at $102,494,000 after purchasing an additional 4,021,385 shares during the period. Advisors Preferred LLC acquired a new position in shares of AES during the 3rd quarter worth approximately $867,000. Horizon Investments LLC lifted its position in shares of AES by 4,710.9% during the 4th quarter. Horizon Investments LLC now owns 542,528 shares of the utilities provider’s stock valued at $7,780,000 after buying an additional 531,251 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new stake in AES in the 4th quarter valued at $585,000. Finally, Sound Shore Management Inc. CT increased its holdings in AES by 17.0% in the 4th quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider’s stock worth $98,922,000 after acquiring an additional 1,002,530 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Trading Up 0.1%

AES opened at $14.69 on Monday. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 7.85 and a beta of 0.96. The company’s 50 day simple moving average is $14.45 and its two-hundred day simple moving average is $14.53. The AES Corporation has a 1-year low of $10.02 and a 1-year high of $17.65. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.73 and a quick ratio of 0.65.

Analyst Upgrades and Downgrades

AES has been the topic of several recent analyst reports. Mizuho downgraded shares of AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Morgan Stanley restated an “equal weight” rating and set a $15.00 price target (down from $23.00) on shares of AES in a research report on Friday, March 6th. Argus lowered shares of AES from a “buy” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen upgraded AES from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Susquehanna cut AES from a “positive” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $15.00 in a report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.63.

About AES

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.