The AES Corporation $AES Shares Acquired by Sound Shore Management Inc. CT

by · The Cerbat Gem

Sound Shore Management Inc. CT lifted its stake in shares of The AES Corporation (NYSE:AES – Free Report) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,898,342 shares of the utilities provider’s stock after buying an additional 1,002,530 shares during the quarter. AES makes up approximately 3.1% of Sound Shore Management Inc. CT’s portfolio, making the stock its 10th biggest position. Sound Shore Management Inc. CT’s holdings in AES were worth $98,922,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. New Mexico Educational Retirement Board grew its position in shares of AES by 2.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 32,922 shares of the utilities provider’s stock worth $472,000 after buying an additional 800 shares in the last quarter. Integrated Investment Consultants LLC grew its position in shares of AES by 43.2% during the fourth quarter. Integrated Investment Consultants LLC now owns 21,200 shares of the utilities provider’s stock worth $304,000 after buying an additional 6,400 shares in the last quarter. Canada Post Corp Registered Pension Plan grew its position in shares of AES by 108.0% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 7,280 shares of the utilities provider’s stock worth $104,000 after buying an additional 3,780 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of AES during the fourth quarter worth about $491,000. Finally, S&CO Inc. grew its position in shares of AES by 6.3% during the fourth quarter. S&CO Inc. now owns 17,000 shares of the utilities provider’s stock worth $243,000 after buying an additional 1,000 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

AES Price Performance

Shares of NYSE AES opened at $14.71 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 2.97. The AES Corporation has a twelve month low of $10.02 and a twelve month high of $17.65. The stock has a 50 day moving average of $14.43 and a two-hundred day moving average of $14.52. The stock has a market cap of $10.49 billion, a P/E ratio of 7.86 and a beta of 0.96.

AES (NYSE:AES – Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The utilities provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. AES had a return on equity of 22.66% and a net margin of 10.78%.The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, research analysts forecast that The AES Corporation will post 2.27 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen raised AES from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Argus downgraded AES from a “buy” rating to a “hold” rating in a report on Thursday, March 26th. Mizuho downgraded AES from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Susquehanna downgraded AES from a “positive” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $15.00 in a report on Thursday, April 9th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of AES in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, AES currently has an average rating of “Hold” and an average price target of $15.63.

View Our Latest Report on AES

AES Company Profile

(Free Report)

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.

See Also

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