Putnam Investments LLC lifted its holdings in shares of AES Corp (NYSE:AES) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,666,577 shares of the utilities provider’s stock after purchasing an additional 1,415,813 shares during the period. Putnam Investments LLC owned 0.86% of AES worth $75,989,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Evergreen Capital Management LLC acquired a new position in shares of AES during the first quarter worth $117,000. Gideon Capital Advisors Inc. acquired a new position in shares of AES during the second quarter worth $142,000. Wedbush Securities Inc. acquired a new position in shares of AES during the second quarter worth $152,000. Mount Yale Investment Advisors LLC acquired a new position in shares of AES during the first quarter worth $146,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of AES during the second quarter worth $1,032,000. Institutional investors own 96.65% of the company’s stock.
A number of equities analysts recently weighed in on AES shares. UBS Group lifted their target price on shares of AES from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 20th. Bank of America downgraded shares of AES from a “neutral” rating to an “underperform” rating and set a $12.50 target price for the company. in a research note on Monday, July 2nd. Zacks Investment Research downgraded shares of AES from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Finally, Morgan Stanley lifted their target price on shares of AES from $13.50 to $14.00 and gave the stock a “hold” rating in a research note on Friday, September 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.25.
AES (NYSE:AES) last issued its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $3.41 billion. AES had a negative net margin of 1.87% and a positive return on equity of 19.26%. On average, equities analysts predict that AES Corp will post 1.21 earnings per share for the current year.
AES Company 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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