AES (NYSE:AES) Stock Crosses Below 50 Day Moving Average – Here’s Why

The AES Corporation (NYSE:AES) passed below its fifty day moving average during trading on Friday. The stock has a fifty 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 traded.

Wall Street Analysts Forecast Growth

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

AES Trading Down 1.4%

The business’s 50-day moving average price is $14.87 and its two-hundred day moving average price is $14.76. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 5.66 and a beta of 0.97. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67.

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

AES Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.1759 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. AES’s payout ratio is 26.72%.

Institutional Trading of AES

A number of hedge funds have recently added to or reduced their stakes in AES. Chicago Partners Investment Group LLC increased its stake in shares of AES by 17.4% in the third quarter. Chicago Partners Investment Group LLC now owns 14,871 shares of the utilities provider’s stock valued at $223,000 after buying an additional 2,205 shares during the period. Rakuten Investment Management Inc. lifted its position in shares of AES by 8.0% in the 3rd quarter. Rakuten Investment Management Inc. now owns 81,667 shares of the utilities provider’s stock worth $1,214,000 after purchasing an additional 6,056 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of AES in the 3rd quarter worth approximately $2,719,000. CHICAGO TRUST Co NA boosted its stake in shares of AES by 8.3% in the 3rd quarter. CHICAGO TRUST Co NA now owns 29,935 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 2,283 shares during the last quarter. Finally, Choreo LLC increased its position in shares of AES by 7.3% during the third quarter. Choreo LLC now owns 13,627 shares of the utilities provider’s stock worth $203,000 after buying an additional 932 shares during the period. Institutional investors and hedge funds own 93.13% of the company’s stock.

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.