Resonant Capital Advisors LLC Takes Position in AES Corp (NYSE:AES)

Resonant Capital Advisors LLC acquired a new position in AES Corp (NYSE:AES) during the fourth quarter, Holdings Channel reports. The firm acquired 12,464 shares of the utilities provider’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in AES by 179.4% during the fourth quarter. Signaturefd LLC now owns 2,199 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 1,412 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of AES by 70.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 3,354 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,382 shares in the last quarter. Covington Capital Management raised its holdings in shares of AES by 51.3% in the 3rd quarter. Covington Capital Management now owns 3,532 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 1,197 shares in the last quarter. Carmichael Hill & Associates Inc. bought a new stake in shares of AES in the 4th quarter worth approximately $80,000. Finally, Focused Wealth Management Inc lifted its stake in AES by 26.7% during the fourth quarter. Focused Wealth Management Inc now owns 5,700 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 1,200 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

In other AES news, Director John B. Morse, Jr. bought 10,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $12.99 per share, for a total transaction of $129,900.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $129,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tish Mendoza purchased 3,240 shares of AES stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $9.28 per share, with a total value of $30,067.20. Following the completion of the transaction, the vice president now directly owns 111,946 shares of the company’s stock, valued at $1,038,858.88. The disclosure for this purchase can be found here. Insiders purchased a total of 39,293 shares of company stock valued at $442,461 in the last ninety days. Company insiders own 1.54% of the company’s stock.

AES has been the subject of a number of research reports. SunTrust Banks raised their target price on shares of AES from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 10th. UBS Group raised AES from a “neutral” rating to a “buy” rating and dropped their price target for the company from $21.00 to $16.00 in a report on Monday, March 16th. Morgan Stanley upgraded AES from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $19.00 to $16.50 in a research report on Monday. Finally, TheStreet lowered AES from a “b” rating to a “c” rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $18.01.

NYSE AES traded up $0.68 on Thursday, hitting $13.50. 7,769,647 shares of the company were exchanged, compared to its average volume of 5,303,210. The company’s 50 day moving average price is $17.07 and its 200-day moving average price is $17.88. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.03 and a quick ratio of 0.93. The firm has a market capitalization of $8.41 billion, a P/E ratio of 30.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. AES Corp has a twelve month low of $8.11 and a twelve month high of $21.23.

AES (NYSE:AES) last announced its earnings results on Friday, February 28th. The utilities provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.93 billion. AES had a net margin of 2.97% and a return on equity of 22.82%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. As a group, equities analysts expect that AES Corp will post 1.43 EPS for the current year.

AES Profile

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.

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Institutional Ownership by Quarter for AES (NYSE:AES)

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