PNC Financial Services Group Inc. Has $2.79 Million Stake in The AES Co. (NYSE:AES)

PNC Financial Services Group Inc. boosted its holdings in shares of The AES Co. (NYSE:AES) by 145.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,108 shares of the utilities provider’s stock after purchasing an additional 85,926 shares during the period. PNC Financial Services Group Inc.’s holdings in AES were worth $2,793,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glassman Wealth Services increased its holdings in AES by 186.1% during the 4th quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,254 shares in the last quarter. Private Trust Co. NA increased its stake in shares of AES by 68.8% in the 4th quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock valued at $51,000 after buying an additional 1,088 shares during the period. Principal Securities Inc. acquired a new stake in shares of AES in the 4th quarter valued at $57,000. Allworth Financial LP increased its stake in shares of AES by 133.7% in the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock valued at $60,000 after buying an additional 1,779 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of AES by 267.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock valued at $69,000 after buying an additional 2,611 shares during the period. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Stock Performance

Shares of AES stock opened at $18.96 on Thursday. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 26.33 and a beta of 1.11. The stock’s 50-day moving average is $19.25 and its 200-day moving average is $18.00. The AES Co. has a one year low of $11.43 and a one year high of $22.60. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71.

AES (NYSE:AES) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.20 billion. AES had a return on equity of 36.23% and a net margin of 4.40%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Equities analysts predict that The AES Co. will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AES. Barclays lowered their target price on AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Seaport Res Ptn cut AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Mizuho lifted their price objective on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. UBS Group reduced their target price on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of AES in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.50.

AES 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.