Riverview Trust Co Acquires New Shares in The AES Co. (NYSE:AES)

Riverview Trust Co acquired a new stake in shares of The AES Co. (NYSE:AES) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,851 shares of the utilities provider’s stock, valued at approximately $33,000.

Several other institutional investors also recently modified their holdings of AES. Miller Howard Investments Inc. NY lifted its holdings in AES by 6.9% in the first quarter. Miller Howard Investments Inc. NY now owns 186,703 shares of the utilities provider’s stock valued at $3,348,000 after acquiring an additional 12,003 shares during the period. AdvisorNet Financial Inc lifted its holdings in AES by 7.2% in the first quarter. AdvisorNet Financial Inc now owns 42,036 shares of the utilities provider’s stock valued at $754,000 after acquiring an additional 2,809 shares during the period. Ballentine Partners LLC bought a new position in AES in the first quarter valued at about $211,000. Douglas Lane & Associates LLC lifted its holdings in AES by 2.7% in the first quarter. Douglas Lane & Associates LLC now owns 3,559,999 shares of the utilities provider’s stock valued at $63,831,000 after acquiring an additional 91,990 shares during the period. Finally, Buckingham Capital Management Inc. lifted its holdings in AES by 12.9% in the first quarter. Buckingham Capital Management Inc. now owns 262,957 shares of the utilities provider’s stock valued at $4,715,000 after acquiring an additional 30,145 shares during the period. 93.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AES has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of AES in a report on Tuesday, April 9th. UBS Group decreased their price objective on AES from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Argus reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AES in a research note on Tuesday, March 26th. Mizuho raised their price objective on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Barclays raised their price objective on AES from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.88.

AES Stock Down 0.5 %

Shares of AES opened at $18.90 on Wednesday. The business’s 50 day moving average is $19.42 and its 200 day moving average is $18.02. The company has a market capitalization of $13.43 billion, a PE ratio of 26.25 and a beta of 1.11. The AES Co. has a 12-month low of $11.43 and a 12-month high of $22.60. The company has a current ratio of 0.78, a quick ratio of 0.71 and a debt-to-equity ratio of 4.04.

AES (NYSE:AES) last issued its earnings results on Friday, May 3rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.16. The company had revenue of $3.09 billion for 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 firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. Research analysts expect 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.