AES (NYSE:AES) Shares Break Above Fifty Day Moving Average – Time to Sell?

The AES Corporation (NYSE:AES)’s share price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $14.89 and traded as high as $14.93. AES shares last traded at $14.9150, with a volume of 6,102,829 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AES. Wall Street Zen upgraded shares of AES to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Seven analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.80.

AES Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 2.81. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 5.99 and a beta of 0.95. The company’s 50-day moving average is $14.89 and its 200-day moving average is $14.79.

AES Dividend Announcement

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 dividend of $0.1759 per share. The ex-dividend date is Friday, October 30th. This represents a $0.70 annualized dividend and a yield of 4.7%. AES’s dividend payout ratio is presently 28.11%.

Institutional Trading of AES

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of AES during the second quarter worth $722,429,000. HBK Investments L P acquired a new stake in shares of AES during the 2nd quarter valued at $162,298,000. Bank of New York Mellon Corp acquired a new stake in shares of AES during the 2nd quarter valued at $97,056,000. Bank of America Corp DE bought a new stake in AES during the 2nd quarter worth $80,584,000. Finally, Man Group plc acquired a new position in AES in the 2nd quarter worth about $65,159,000. 93.13% of the stock is owned by institutional investors and hedge funds.

About AES

The AES Corporation is a global power company that develops and operates electricity generation and energy infrastructure. Its portfolio includes renewable energy, natural gas and other power generation, as well as battery energy storage. AES also helps businesses and other customers procure electricity and pursue clean-energy goals.

Founded in 1981 as Applied Energy Services, the company has expanded from its U.S. origins to serve customers across multiple regions, including the Americas, Europe and Asia.