North Star Asset Management Inc buys $9,439,599 stake in AES Corp (AES)

AES Corp (AES) : North Star Asset Management Inc scooped up 4,700 additional shares in AES Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 795,919 shares of AES Corp which is valued at $9,439,599.AES Corp makes up approximately 1.06% of North Star Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Chevy Chase Trust Holdings reduced its stake in AES by selling 12,968 shares or 2.29% in the most recent quarter. The Hedge Fund company now holds 552,285 shares of AES which is valued at $6,550,100. AES Corp makes up approx 0.04% of Chevy Chase Trust Holdings’s portfolio. Eqis Capital Management sold out all of its stake in AES during the most recent quarter. The investment firm sold 19,409 shares of AES which is valued $230,191. Washington Trust Bank added AES to its portfolio by purchasing 187 company shares during the most recent quarter which is valued at $2,218.

AES Corp closed down -0.52 points or -4.17% at $11.95 with 97,60,238 shares getting traded on Tuesday. Post opening the session at $12.38, the shares hit an intraday low of $11.87 and an intraday high of $12.38 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, AES Corp reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $0.15. The company had revenue of $3229.00 million for the quarter, compared to analysts expectations of $4069.91 million. The company’s revenue was down -11.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on AES Corp. Shares were Downgraded by Barclays on Oct 4, 2016 to ” Equal Weight” and Lowered the Price Target to $ 12 from a previous price target of $14 .

The AES Corporation (AES) is a holding company that operates a portfolio of electricity generation and distribution businesses. The Company is organized into six market-oriented Strategic Business Units (SBUs): the United States Andes (Chile Colombia and Argentina) Brazil MCAC (Mexico Central America and Caribbean) Europe (formerly EMEA) and Asia. Within these six SBUs the Company has two lines of business: generation and utilities. Under the generation business line the Company owns and operates power plants to generate and sell power to customers such as utilities industrial users and other intermediaries. Under the utilities business line the Company owns and operates utilities to generate or purchase distribute transmit and sell electricity to end-user customers in the residential commercial industrial and governmental sectors within a defined service area. Its utilities also generate and sell electricity on the wholesale market.

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