The AES Corporation (NYSE:AES) Stock Has Average Price Target of $15.83

The AES Corporation (NYSE:AES) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $15.83.

Separately, Weiss Ratings upgraded shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th.

Institutional Trading of AES

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of AES in the second quarter worth approximately $722,429,000. HBK Investments L P acquired a new stake in shares of AES during the second quarter worth approximately $162,298,000. SG Americas Securities LLC boosted its holdings in shares of AES by 99.8% during the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock worth $201,215,000 after purchasing an additional 7,133,230 shares during the period. Bank of New York Mellon Corp purchased a new position in AES during the second quarter valued at approximately $97,056,000. Finally, Bank of America Corp DE purchased a new position in AES during the second quarter valued at approximately $80,584,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Trading Up 0.1%

AES stock opened at $14.98 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 2.93. The firm has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $14.70. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 5.72 and a beta of 0.97. AES has a 52-week low of $13.21 and a 52-week high of $17.65.

AES (NYSE:AES) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.15. AES had a return on equity of 20.69% and a net margin of 14.30%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.11 billion. Sell-side analysts expect that AES will post 2.02 earnings per share for the current year.

AES Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.1759 per share. This represents a $0.70 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, October 30th. AES’s payout ratio is 26.72%.

AES Company Profile

AES Corporation is a global energy company that develops, owns and operates power generation and utility businesses. Its activities include generating and supplying electricity, developing renewable energy projects, and providing energy infrastructure and related services.

The company’s portfolio includes solar, wind, battery energy storage and hydroelectric facilities, as well as natural gas-fired generation and other conventional power assets. AES also works with businesses and other energy users to provide customized clean-energy solutions, including renewable power procurement and storage.

Founded in 1981 as Applied Energy Services, AES serves customers through operations and projects in the United States and international markets across North and South America, Europe and Asia.