Wellington Management Group LLP Reduces Position in The AES Co. (NYSE:AES)

Wellington Management Group LLP reduced its holdings in shares of The AES Co. (NYSE:AES) by 48.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,392,698 shares of the utilities provider’s stock after selling 7,813,621 shares during the period. Wellington Management Group LLP owned about 1.18% of AES worth $161,559,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AES. Glassman Wealth Services boosted its stake in shares of AES by 186.1% during the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,254 shares during the period. Private Trust Co. NA boosted its position in AES by 68.8% in the 4th 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. purchased a new position in shares of AES during the fourth quarter worth approximately $57,000. Allworth Financial LP raised its stake in shares of AES by 133.7% during the fourth quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 1,779 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of AES by 267.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 2,611 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Trading Up 0.6 %

NYSE:AES opened at $18.96 on Thursday. The firm has a 50 day moving average of $19.25 and a 200 day moving average of $18.00. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. 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 $13.47 billion, a price-to-earnings ratio of 26.33 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 target price on shares of AES in a research report on Tuesday, April 9th. Mizuho upped their price objective on shares of AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. UBS Group cut their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Seaport Res Ptn cut shares of AES from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Argus reissued a “buy” rating and set a $25.00 price objective on shares of AES in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.50.

About AES

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.