Connor Clark & Lunn Investment Management Ltd. Raises Holdings in The AES Co. (NYSE:AES)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of The AES Co. (NYSE:AES – Get Rating) by 1,339.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 282,142 shares of the utilities provider’s stock after buying an additional 262,540 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AES were worth $8,114,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC purchased a new position in shares of AES during the 4th quarter valued at $27,000. Concord Wealth Partners purchased a new stake in AES during the 4th quarter worth about $29,000. Tsfg LLC purchased a new stake in AES during the 4th quarter worth about $36,000. Dupont Capital Management Corp purchased a new stake in AES during the 4th quarter worth about $45,000. Finally, Ronald Blue Trust Inc. lifted its holdings in AES by 27.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,313 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 95.46% of the company’s stock.

AES Stock Down 1.5 %

Shares of AES stock opened at $19.95 on Friday. The AES Co. has a 1 year low of $18.62 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.00 and a current ratio of 1.13. The stock’s 50 day simple moving average is $22.97 and its two-hundred day simple moving average is $25.60.

AES (NYSE:AES – Get Rating) last issued its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). AES had a positive return on equity of 38.46% and a negative net margin of 3.59%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that The AES Co. will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AES has been the topic of several recent analyst reports. TheStreet cut AES from a “b-” rating to a “c” rating in a report on Monday, February 27th. UBS Group decreased their price objective on AES from $30.00 to $27.00 in a report on Tuesday, May 9th. Wolfe Research cut AES from an “outperform” rating to a “peer perform” rating in a report on Monday, April 17th. Morgan Stanley decreased their price objective on AES from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, April 20th. Finally, StockNews.com cut AES from a “hold” rating to a “sell” rating in a report on Saturday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

AES Profile

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The AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU. The U.S.