InTrack Investment Management Inc Buys New Stake in The AES Co. (NYSE:AES)

InTrack Investment Management Inc bought a new stake in shares of The AES Co. (NYSE:AES) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,987 shares of the utilities provider’s stock, valued at approximately $197,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors increased its holdings in AES by 76.9% during the 4th quarter. Capital World Investors now owns 71,348,566 shares of the utilities provider’s stock worth $1,373,460,000 after purchasing an additional 31,009,718 shares during the last quarter. Capital International Investors boosted its stake in AES by 3.8% during the 4th quarter. Capital International Investors now owns 69,671,801 shares of the utilities provider’s stock valued at $1,341,277,000 after acquiring an additional 2,537,128 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in AES by 70.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,441,980 shares of the utilities provider’s stock worth $124,008,000 after acquiring an additional 2,670,001 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of AES by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,053,860 shares of the utilities provider’s stock worth $116,537,000 after purchasing an additional 325,564 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of AES by 5.7% during the fourth quarter. Point72 Asset Management L.P. now owns 3,783,800 shares of the utilities provider’s stock worth $72,838,000 after purchasing an additional 204,448 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AES shares. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of AES in a research note on Tuesday, April 9th. Barclays increased their target price on shares of AES from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. Seaport Res Ptn downgraded AES from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Mizuho increased their price target on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $25.00 price objective on shares of AES in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.88.

AES Trading Up 0.6 %

NYSE:AES opened at $17.54 on Wednesday. The AES Co. has a 1 year low of $11.43 and a 1 year high of $22.60. The business has a fifty day moving average of $19.58 and a 200-day moving average of $18.00. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.71 and a current ratio of 0.78. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 24.36 and a beta of 1.09.

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

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.