Shares of AES Corp (NYSE:AES) have earned an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.77.
Several research analysts recently commented on AES shares. Zacks Investment Research upgraded shares of AES from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, June 4th. Argus upgraded shares of AES from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. ValuEngine downgraded shares of AES from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Evercore ISI set a $19.00 price objective on shares of AES and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Bank of America upgraded shares of AES from an “underperform” rating to a “neutral” rating and set a $16.57 price objective on the stock in a report on Thursday, June 20th.
AES traded up $0.11 during trading on Friday, hitting $16.00. The stock had a trading volume of 51,972 shares, compared to its average volume of 4,461,416. The firm has a market cap of $10.55 billion, a PE ratio of 12.90, a P/E/G ratio of 1.39 and a beta of 1.05. AES has a 12 month low of $13.49 and a 12 month high of $18.52. The company has a current ratio of 1.36, a quick ratio of 1.24 and a debt-to-equity ratio of 3.41. The company has a 50 day simple moving average of $15.57 and a 200-day simple moving average of $16.78.
AES (NYSE:AES) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.43 billion. AES had a return on equity of 18.94% and a net margin of 3.78%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. As a group, sell-side analysts anticipate that AES will post 1.34 earnings per share for the current fiscal year.
In other news, SVP Julian Nebreda sold 18,864 shares of AES stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.24, for a total transaction of $287,487.36. Following the sale, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $538,185.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Ubben bought 200,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.25 per share, for a total transaction of $3,050,000.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of AES by 204.0% during the 2nd quarter. SG Americas Securities LLC now owns 373,219 shares of the utilities provider’s stock valued at $6,255,000 after acquiring an additional 250,431 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AES by 7.5% during 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 in the last quarter. Hennessy Advisors Inc. boosted its position in shares of AES by 3.0% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,340,200 shares of the utilities provider’s stock valued at $22,462,000 after acquiring an additional 39,100 shares in the last quarter. Norinchukin Bank The boosted its position in shares of AES by 3.6% during the 1st quarter. Norinchukin Bank The now owns 125,703 shares of the utilities provider’s stock valued at $2,273,000 after acquiring an additional 4,377 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in AES in the first quarter valued at about $458,000. Institutional investors and hedge funds own 93.58% of the company’s stock.
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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