AES (NYSE:AES) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Shares of The AES Corporation (NYSE:AES) crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $14.87 and traded as low as $14.83. AES shares last traded at $14.84, with a volume of 9,137,479 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Seven investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.83.

AES Stock Down 1.4%

The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The business has a 50 day simple moving average of $14.87 and a 200 day simple moving average of $14.76. The stock has a market cap of $10.59 billion, a PE ratio of 5.66 and a beta of 0.97.

AES (NYSE:AES) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.11 billion. AES had a return on equity of 20.69% and a net margin of 14.30%. On average, equities research analysts forecast that The AES Corporation will post 2.02 EPS for the current fiscal year.

AES Announces Dividend

The firm 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 $0.1759 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. AES’s payout ratio is 26.72%.

Institutional Trading of AES

Several large investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC grew its holdings in AES by 2,444.4% during the second quarter. Anchor Investment Management LLC now owns 2,290 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 2,200 shares during the last quarter. Core Capital Management & Research inc. bought a new stake in shares of AES during the 2nd quarter worth $37,000. Curry Webb Wealth Management LLC acquired a new position in AES in the 3rd quarter valued at $37,000. Root Financial Partners LLC grew its stake in AES by 259.9% in the 1st quarter. Root Financial Partners LLC now owns 2,822 shares of the utilities provider’s stock valued at $40,000 after buying an additional 2,038 shares during the last quarter. Finally, Burnham & Co LLC bought a new position in AES in the 2nd quarter worth $44,000. 93.13% of the stock is owned by institutional investors.

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.