Norden Group LLC Has $6.50 Million Stake in The AES Co. (NYSE:AES)

Norden Group LLC grew its position in The AES Co. (NYSE:AES) by 2,244.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 362,726 shares of the utilities provider’s stock after purchasing an additional 347,253 shares during the period. Norden Group LLC’s holdings in AES were worth $6,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AES. Riverview Trust Co acquired a new position in shares of AES in the first quarter valued at approximately $33,000. Glassman Wealth Services boosted its stake in shares of AES by 186.1% in the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock valued at $37,000 after buying an additional 1,254 shares during the period. Private Trust Co. NA boosted its stake in shares of AES by 68.8% in the fourth 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. bought a new stake in shares of AES in the fourth quarter valued at approximately $57,000. Finally, Allworth Financial LP boosted its stake in shares of AES by 133.7% in the fourth 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. Institutional investors and hedge funds own 93.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AES shares. UBS Group cut their price target on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Mizuho boosted their price target on AES from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley restated an “overweight” rating and set a $25.00 target price on shares of AES in a research note on Monday, March 25th. Barclays upped their target price on AES from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 25th. Finally, Argus restated a “buy” rating and set a $25.00 target price on shares of AES in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.88.

AES Stock Up 2.1 %

Shares of AES opened at $17.89 on Friday. The AES Co. has a 52 week low of $11.43 and a 52 week high of $22.60. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 24.85 and a beta of 1.08. 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 fifty day moving average of $19.61 and a 200-day moving average of $17.99.

AES (NYSE:AES) last announced 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. AES had a return on equity of 36.23% and a net margin of 4.40%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the company earned $0.22 EPS. AES’s revenue was down 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The AES Co. will post 1.91 earnings per share for the current fiscal 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.