Norden Group LLC Has $6.50 Million Stake in The AES Co. (NYSE:AES)

Norden Group LLC increased its stake in shares of The AES Co. (NYSE:AES) by 2,244.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 362,726 shares of the utilities provider’s stock after acquiring an additional 347,253 shares during the period. Norden Group LLC owned 0.05% of AES worth $6,504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AES. Tower Research Capital LLC TRC increased its holdings in shares of AES by 171.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 60,890 shares of the utilities provider’s stock valued at $926,000 after acquiring an additional 38,465 shares during the last quarter. Bank of Nova Scotia grew its holdings in AES by 11.7% in the 3rd quarter. Bank of Nova Scotia now owns 38,633 shares of the utilities provider’s stock valued at $587,000 after buying an additional 4,054 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in AES by 196.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 277,107 shares of the utilities provider’s stock valued at $4,212,000 after buying an additional 183,542 shares during the last quarter. Lazard Asset Management LLC grew its holdings in AES by 370.1% in the 3rd quarter. Lazard Asset Management LLC now owns 116,537 shares of the utilities provider’s stock valued at $1,770,000 after buying an additional 91,749 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in AES by 1.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 149,678 shares of the utilities provider’s stock valued at $2,275,000 after buying an additional 2,781 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

Wall Street Analysts Forecast Growth

AES has been the topic of a number of research analyst reports. Argus reaffirmed a “buy” rating and issued a $25.00 target price on shares of AES in a report on Tuesday, March 26th. UBS Group reduced their price objective on AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Barclays raised their price objective on AES from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 25th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective on shares of AES in a research report on Monday, March 25th. Finally, Mizuho raised their price objective on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.88.

AES Price Performance

AES stock opened at $17.89 on Friday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.78 and a quick ratio of 0.71. The company has a market capitalization of $12.71 billion, a PE ratio of 24.85 and a beta of 1.08. The AES Co. has a one year low of $11.43 and a one year high of $22.60. The business has a 50 day simple moving average of $19.61 and a 200 day simple moving average of $17.99.

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