BidaskClub upgraded shares of The AES Corporation (NYSE:AES) from a strong sell rating to a sell rating in a research report sent to investors on Monday, July 24th.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of The AES Corporation from a hold rating to a buy rating and set a $12.00 target price for the company in a research note on Wednesday, July 12th. Morgan Stanley reiterated an equal weight rating on shares of The AES Corporation in a research note on Monday, July 10th. Finally, ValuEngine cut shares of The AES Corporation from a buy rating to a hold rating in a research note on Friday, June 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The AES Corporation currently has an average rating of Hold and a consensus price target of $12.00.
Shares of The AES Corporation (NYSE AES) traded up 0.54% during trading on Monday, hitting $11.07. 4,446,730 shares of the stock were exchanged. The AES Corporation has a 12-month low of $10.60 and a 12-month high of $13.32. The stock’s market cap is $7.31 billion. The stock’s 50 day moving average is $11.12 and its 200-day moving average is $11.36.
The AES Corporation (NYSE:AES) last posted its earnings results on Tuesday, August 8th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.97 billion. The AES Corporation had a negative net margin of 5.30% and a positive return on equity of 15.86%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. Equities research analysts anticipate that The AES Corporation will post $1.05 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Tuesday, August 1st. The AES Corporation’s payout ratio is -42.10%.
Several hedge funds have recently modified their holdings of the company. Balyasny Asset Management LLC boosted its stake in shares of The AES Corporation by 20.5% in the second quarter. Balyasny Asset Management LLC now owns 288,539 shares of the utilities provider’s stock worth $3,206,000 after buying an additional 48,995 shares during the last quarter. Hancock Holding Co. boosted its stake in shares of The AES Corporation by 15.8% in the second quarter. Hancock Holding Co. now owns 97,402 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 13,293 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of The AES Corporation by 60.6% in the second quarter. Parametric Portfolio Associates LLC now owns 2,756,793 shares of the utilities provider’s stock worth $30,628,000 after buying an additional 1,040,302 shares during the last quarter. Cibc World Markets Corp boosted its stake in shares of The AES Corporation by 14.7% in the second quarter. Cibc World Markets Corp now owns 191,283 shares of the utilities provider’s stock worth $2,125,000 after buying an additional 24,444 shares during the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of The AES Corporation during the second quarter worth $5,339,000. Institutional investors and hedge funds own 93.49% of the company’s stock.
The AES Corporation Company Profile
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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