Teachers Retirement System of The State of Kentucky Cuts Stake in The AES Co. (NYSE:AES)

Teachers Retirement System of The State of Kentucky lowered its stake in The AES Co. (NYSE:AES) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,553 shares of the utilities provider’s stock after selling 2,562 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in AES were worth $1,108,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AES. Kestra Advisory Services LLC lifted its position in shares of AES by 39.2% during the third quarter. Kestra Advisory Services LLC now owns 18,682 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 5,259 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in AES by 15.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 679,615 shares of the utilities provider’s stock worth $10,330,000 after buying an additional 91,247 shares in the last quarter. LPL Financial LLC boosted its position in AES by 30.2% in the 3rd quarter. LPL Financial LLC now owns 1,015,682 shares of the utilities provider’s stock valued at $15,438,000 after buying an additional 235,525 shares during the last quarter. Northern Trust Corp grew its stake in shares of AES by 0.5% during the third quarter. Northern Trust Corp now owns 6,108,260 shares of the utilities provider’s stock valued at $92,846,000 after acquiring an additional 29,488 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of AES by 7.3% during the third quarter. Mutual Advisors LLC now owns 48,065 shares of the utilities provider’s stock worth $731,000 after acquiring an additional 3,288 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AES. Seaport Res Ptn lowered AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Barclays dropped their price target on shares of AES from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Morgan Stanley reiterated an “overweight” rating and set a $25.00 price objective on shares of AES in a research note on Monday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Finally, Mizuho upped their price target on AES from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, AES has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

AES Trading Down 2.1 %

Shares of NYSE AES opened at $18.47 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. The AES Co. has a 12 month low of $11.43 and a 12 month high of $22.60. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 25.65 and a beta of 1.11. The business has a fifty day simple moving average of $19.31 and a 200-day simple moving average of $18.01.

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

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.