250,000 Shares in AES Corp (AES) Acquired by Shelter Harbor Advisors LP

Shelter Harbor Advisors LP bought a new stake in AES Corp (NYSE:AES) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 250,000 shares of the utilities provider’s stock, valued at approximately $3,615,000. AES makes up approximately 1.8% of Shelter Harbor Advisors LP’s portfolio, making the stock its 21st biggest holding.

Other large investors have also recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in shares of AES in the 4th quarter valued at $29,000. We Are One Seven LLC purchased a new position in AES in the 4th quarter valued at $30,000. IMS Capital Management purchased a new position in AES in the 3rd quarter valued at $52,000. North Star Investment Management Corp. grew its position in AES by 22.8% in the 4th quarter. North Star Investment Management Corp. now owns 4,476 shares of the utilities provider’s stock valued at $65,000 after buying an additional 831 shares during the last quarter. Finally, Fort L.P. purchased a new position in AES in the 4th quarter valued at $66,000. 93.56% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Monday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.00.

Shares of NYSE AES traded down $0.21 during trading on Friday, hitting $17.97. 35,342 shares of the company were exchanged, compared to its average volume of 5,516,999. The firm has a market capitalization of $11.99 billion, a P/E ratio of 14.52, a PEG ratio of 1.76 and a beta of 1.08. AES Corp has a 1 year low of $10.49 and a 1 year high of $18.26. The company has a debt-to-equity ratio of 3.15, a quick ratio of 1.01 and a current ratio of 1.14.

AES (NYSE:AES) last issued its earnings results on Wednesday, February 27th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $4.06 billion. AES had a net margin of 11.20% and a return on equity of 19.43%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. On average, sell-side analysts forecast that AES Corp will post 1.32 earnings per share for the current fiscal year.

In related news, insider Jeffrey W. Ubben bought 35,000 shares of the firm’s stock in a transaction on Wednesday, December 26th. The shares were bought at an average cost of $13.75 per share, for a total transaction of $481,250.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.06% of the stock is currently owned by insiders.

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AES 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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for AES (NYSE:AES)

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