Shares of AES Corp (NYSE:AES) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.50.
Separately, Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, April 16th.
In other AES news, Director Jeffrey W. Ubben purchased 2,482,000 shares of AES stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $16.11 per share, for a total transaction of $39,985,020.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey W. Ubben purchased 2,582,000 shares of AES stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $16.10 per share, with a total value of $41,570,200.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc boosted its position in AES by 6.1% during the 3rd quarter. Vanguard Group Inc now owns 81,854,306 shares of the utilities provider’s stock worth $1,145,960,000 after acquiring an additional 4,727,278 shares during the period. BlackRock Inc. boosted its position in AES by 0.4% during the 4th quarter. BlackRock Inc. now owns 63,316,409 shares of the utilities provider’s stock worth $915,555,000 after acquiring an additional 264,771 shares during the period. Bank of Montreal Can boosted its position in AES by 2.5% during the 4th quarter. Bank of Montreal Can now owns 16,403,408 shares of the utilities provider’s stock worth $237,194,000 after acquiring an additional 402,901 shares during the period. AQR Capital Management LLC boosted its position in AES by 74.8% during the 1st quarter. AQR Capital Management LLC now owns 10,575,916 shares of the utilities provider’s stock worth $191,213,000 after acquiring an additional 4,523,946 shares during the period. Finally, AJO LP boosted its position in AES by 13.8% during the 1st quarter. AJO LP now owns 10,291,239 shares of the utilities provider’s stock worth $186,066,000 after acquiring an additional 1,245,605 shares during the period. Institutional investors own 94.30% of the company’s stock.
NYSE:AES traded up $0.27 during midday trading on Friday, reaching $16.35. 6,856,222 shares of the company traded hands, compared to its average volume of 5,927,679. AES has a twelve month low of $11.80 and a twelve month high of $18.52. The firm has a market capitalization of $10.86 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.34 and a quick ratio of 1.21.
AES (NYSE:AES) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). AES had a net margin of 6.32% and a return on equity of 19.05%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts anticipate that AES will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.1365 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.55 dividend on an annualized basis and a yield of 3.34%. AES’s dividend payout ratio is currently 44.35%.
AES Company Profile
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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