The AES Corporation (AES) Shares Gap Up Following Insider Buying Activity

The AES Corporation (NYSE:AES) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $10.98, but opened at $10.82. The AES Corporation shares last traded at $10.89, with a volume of 4590495 shares changing hands.

Specifically, insider Andres Gluski bought 24,632 shares of The AES Corporation stock in a transaction dated Friday, November 10th. The shares were purchased at an average cost of $10.17 per share, with a total value of $250,507.44. Following the transaction, the insider now directly owns 868,396 shares of the company’s stock, valued at $8,831,587.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas M. O’flynn bought 9,500 shares of The AES Corporation stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $10.64 per share, for a total transaction of $101,080.00. Following the completion of the transaction, the chief financial officer now directly owns 219,131 shares in the company, valued at $2,331,553.84. The disclosure for this purchase can be found here. 1.09% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on the stock. BidaskClub raised shares of The AES Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. ValuEngine raised shares of The AES Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $12.00 target price on shares of The AES Corporation in a research report on Monday, September 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of The AES Corporation in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.75.

The firm has a market cap of $6,755.75, a PE ratio of 10.13, a P/E/G ratio of 1.03 and a beta of 1.22. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 3.20.

The AES Corporation (NYSE:AES) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The AES Corporation had a negative net margin of 5.43% and a positive return on equity of 15.14%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. sell-side analysts expect that The AES Corporation will post 1.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.41%. The ex-dividend date is Tuesday, October 31st. The AES Corporation’s dividend payout ratio (DPR) is -41.03%.

A number of hedge funds have recently made changes to their positions in AES. FMR LLC grew its position in The AES Corporation by 6.2% during the 1st quarter. FMR LLC now owns 1,504,682 shares of the utilities provider’s stock valued at $16,822,000 after purchasing an additional 87,602 shares during the last quarter. Thrivent Financial For Lutherans grew its position in The AES Corporation by 6.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 24,270 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 1,420 shares during the last quarter. Dimensional Fund Advisors LP grew its position in The AES Corporation by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,776,925 shares of the utilities provider’s stock valued at $19,864,000 after purchasing an additional 16,442 shares during the last quarter. HighTower Advisors LLC grew its position in The AES Corporation by 90.2% during the 1st quarter. HighTower Advisors LLC now owns 26,793 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 12,703 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in The AES Corporation by 14.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 50,698 shares of the utilities provider’s stock valued at $563,000 after purchasing an additional 6,283 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors.

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About The AES Corporation

The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.

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