Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 47.90MM shares of AES Corp (AES). This represents 7.2% of the company.
In their previous filing dated February 8, 2022 they reported 44.73MM shares and 6.70% of the company, an increase in shares of 7.10% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 18.85% Upside
As of January 30, 2023, the average one-year price target for AES is $31.43. The forecasts range from a low of $26.26 to a high of $34.65. The average price target represents an increase of 18.85% from its latest reported closing price of $26.45.
The projected annual revenue for AES is $11,998MM, a decrease of 2.67%. The projected annual EPS is $1.77.
Fund Sentiment
There are 1370 funds or institutions reporting positions in AES. This is an increase of 70 owner(s) or 5.38%.
Average portfolio weight of all funds dedicated to US:AES is 0.3452%, an increase of 5.2155%. Total shares owned by institutions decreased in the last three months by 0.48% to 788,626K shares.
What are large shareholders doing?
Capital World Investors holds 67,968,838 shares representing 10.18% ownership of the company. In it's prior filing, the firm reported owning 65,351,544 shares, representing an increase of 3.85%. The firm increased its portfolio allocation in AES by 18.23% over the last quarter.
Capital International Investors holds 61,598,932 shares representing 9.22% ownership of the company. In it's prior filing, the firm reported owning 58,415,385 shares, representing an increase of 5.17%. The firm increased its portfolio allocation in AES by 21.64% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 34,632,216 shares representing 5.18% ownership of the company. In it's prior filing, the firm reported owning 32,147,621 shares, representing an increase of 7.17%. The firm increased its portfolio allocation in AES by 23.71% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 19,890,859 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 19,677,237 shares, representing an increase of 1.07%. The firm increased its portfolio allocation in AES by 13.34% over the last quarter.
Ameriprise Financial holds 18,643,831 shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 16,796,010 shares, representing an increase of 9.91%. The firm decreased its portfolio allocation in AES by 76.80% over the last quarter.
AES Background Information
(This description is provided by the company.)
The AES Corporation is a Fortune 500 company that generates and distributes electrical power. AES is headquartered in Arlington, Virginia, and is one of the world's leading power companies, generating and distributing electric power in 15 countries and employing 10,500 people worldwide. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant and Dennis Bakke, two appointees of the Federal Energy Administration under president Richard Nixon. The company was initially a consulting firm; it became AES Corporation, which went public in 1991. Sant was chairman, CEO, and president and Bakke was executive vice president until assuming the position of president in 1987. Bakke would later become the company's CEO in 1994, serving for 8 years until his resignation in 2002, in the midst of a liquidity crisis that followed the collapse of the energy giant Enron. Sant remained as executive chairman until 2003 and as a member of the board until 2006. Paul Hanrahan was appointed President and CEO and served for 10 years, overseeing the stabilization of the company. Until the early 2000’s the company followed self management delegating much responsibility to ordinary employees. In 2012, Hanrahan resigned, his position as President and CEO of the company succeeded by Andres Gluski. As CEO, Gluski has implemented a strategy of reducing the number of countries in which AES does business, from 28 to 16, for the purpose of consolidating operations and reducing costs. Additionally, he also began a program of reducing the company's total carbon emission intensity.
This story originally appeared on Fintel.
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