AES (NYSE:AES) Reaches New 12-Month High at $18.53

AES Corp (NYSE:AES)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.53 and last traded at $18.42, with a volume of 91907 shares. The stock had previously closed at $18.49.

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of AES from $17.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. ValuEngine upgraded AES from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI set a $19.00 target price on AES and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, TheStreet upgraded AES from a “c+” rating to a “b” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.64.

The business has a 50-day simple moving average of $16.85 and a two-hundred day simple moving average of $16.42. The stock has a market capitalization of $12.25 billion, a P/E ratio of 14.91, a PEG ratio of 1.62 and a beta of 1.05. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 3.32.

AES (NYSE:AES) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AES had a return on equity of 22.67% and a net margin of 4.90%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. On average, sell-side analysts forecast that AES Corp will post 1.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.137 per share. This represents a $0.55 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Thursday, October 31st. AES’s dividend payout ratio (DPR) is currently 44.35%.

In related news, SVP Julian Nebreda sold 18,864 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.24, for a total transaction of $287,487.36. Following the transaction, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $538,185.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.06% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in AES by 0.9% during the second quarter. Vanguard Group Inc. now owns 86,683,976 shares of the utilities provider’s stock valued at $1,452,823,000 after purchasing an additional 739,897 shares in the last quarter. BlackRock Inc. grew its stake in AES by 2.8% in the 2nd quarter. BlackRock Inc. now owns 62,062,199 shares of the utilities provider’s stock valued at $1,040,161,000 after acquiring an additional 1,688,310 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in AES by 3.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,516,331 shares of the utilities provider’s stock valued at $204,518,000 after acquiring an additional 403,482 shares during the last quarter. Bank of New York Mellon Corp grew its stake in AES by 7.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,931,902 shares of the utilities provider’s stock valued at $166,458,000 after acquiring an additional 691,328 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in AES by 59.8% in the 2nd quarter. Renaissance Technologies LLC now owns 9,930,500 shares of the utilities provider’s stock valued at $166,435,000 after acquiring an additional 3,716,600 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

AES Company Profile (NYSE:AES)

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.

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