StockNews.com began coverage on shares of AES (NYSE:AES – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the utilities provider’s stock.
A number of other brokerages have also recently issued reports on AES. TheStreet cut AES from a b- rating to a c rating in a report on Monday, February 27th. Argus upped their target price on AES from $29.00 to $31.00 in a report on Thursday, December 1st. UBS Group upped their target price on AES from $28.00 to $33.00 and gave the stock a buy rating in a report on Tuesday, November 29th. Evercore ISI upped their target price on AES to $30.00 in a report on Monday, December 12th. Finally, Royal Bank of Canada restated an outperform rating and set a $32.00 price objective on shares of AES in a research report on Monday, March 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $31.00.
AES Stock Down 3.7 %
Shares of AES stock opened at $22.39 on Thursday. The company has a debt-to-equity ratio of 5.93, a quick ratio of 1.01 and a current ratio of 1.18. AES has a twelve month low of $18.62 and a twelve month high of $29.89. The business has a fifty day simple moving average of $25.87 and a 200 day simple moving average of $26.37.
AES Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 1st will be paid a dividend of $0.1659 per share. The ex-dividend date of this dividend is Friday, April 28th. This represents a $0.66 annualized dividend and a yield of 2.96%. AES’s dividend payout ratio is currently -75.86%.
Insider Buying and Selling
In related news, CEO Andres Gluski sold 748,625 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $28.43, for a total transaction of $21,283,408.75. Following the completion of the sale, the chief executive officer now owns 1,285,504 shares of the company’s stock, valued at $36,546,878.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by insiders.
Institutional Investors Weigh In On AES
A number of hedge funds have recently added to or reduced their stakes in AES. FMR LLC grew its stake in AES by 12.9% in the second quarter. FMR LLC now owns 36,687,443 shares of the utilities provider’s stock valued at $770,804,000 after acquiring an additional 4,194,730 shares during the period. M&G Investment Management Ltd. boosted its position in shares of AES by 99.4% during the second quarter. M&G Investment Management Ltd. now owns 5,309,966 shares of the utilities provider’s stock valued at $111,509,000 after buying an additional 2,647,058 shares during the last quarter. Corvex Management LP boosted its position in shares of AES by 129.2% during the second quarter. Corvex Management LP now owns 4,535,596 shares of the utilities provider’s stock valued at $95,293,000 after buying an additional 2,556,296 shares during the last quarter. Truist Financial Corp boosted its position in shares of AES by 3,973.1% during the third quarter. Truist Financial Corp now owns 1,822,175 shares of the utilities provider’s stock valued at $41,181,000 after buying an additional 1,777,438 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of AES by 69.1% during the third quarter. UBS Asset Management Americas Inc. now owns 3,173,571 shares of the utilities provider’s stock valued at $71,723,000 after buying an additional 1,296,514 shares during the last quarter. Institutional investors and hedge funds own 95.46% of the company’s stock.
The AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU. The U.S.
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