The AES (NYSE:AES) had its target price cut by Morgan Stanley from $14.00 to $12.50 in a research report sent to investors on Wednesday morning. They currently have an equal weight rating on the utilities provider’s stock.
Other equities research analysts have also issued reports about the stock. ValuEngine raised shares of The AES from a hold rating to a buy rating in a research note on Friday, December 1st. Bank of America raised shares of The AES from a neutral rating to a buy rating and set a $12.00 price objective on the stock in a research note on Monday, November 13th. SunTrust Banks reaffirmed a buy rating and issued a $15.00 price objective on shares of The AES in a research note on Wednesday, September 13th. Zacks Investment Research raised shares of The AES from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research note on Thursday, August 17th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $12.00 price objective on shares of The AES in a research note on Monday, September 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $12.70.
The AES (NYSE AES) traded down $0.07 on Wednesday, reaching $10.65. 5,795,600 shares of the company’s stock were exchanged, compared to its average volume of 5,331,568. The AES has a 52-week low of $10.00 and a 52-week high of $12.47. The company has a quick ratio of 0.89, a current ratio of 0.99 and a debt-to-equity ratio of 3.20. The company has a market cap of $7,079.35, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21.
The AES (NYSE:AES) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.05). The AES had a positive return on equity of 15.14% and a negative net margin of 5.43%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. research analysts expect that The AES will post 1.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, January 31st. This is a positive change from The AES’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 4.88%. The AES’s dividend payout ratio is currently -41.03%.
In related news, insider Andres Gluski bought 24,632 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $10.17 per share, with a total value of $250,507.44. Following the completion of the purchase, the insider now directly owns 868,396 shares in the company, valued at $8,831,587.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Santos Bernerd Da bought 4,700 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $10.60 per share, for a total transaction of $49,820.00. Following the completion of the purchase, the chief operating officer now owns 96,186 shares of the company’s stock, valued at $1,019,571.60. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 38,832 shares of company stock worth $401,407. 1.09% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ffcm LLC raised its holdings in The AES by 171.8% during the second quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock worth $116,000 after buying an additional 6,634 shares during the last quarter. Community Bank & Trust Waco Texas acquired a new position in The AES during the second quarter worth $134,000. Cypress Capital Group acquired a new position in The AES during the third quarter worth $138,000. IFP Advisors Inc raised its holdings in The AES by 80.5% during the second quarter. IFP Advisors Inc now owns 20,452 shares of the utilities provider’s stock worth $227,000 after buying an additional 9,123 shares during the last quarter. Finally, Everence Capital Management Inc. raised its holdings in The AES by 104.5% during the second quarter. Everence Capital Management Inc. now owns 28,654 shares of the utilities provider’s stock worth $318,000 after buying an additional 14,640 shares during the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.
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The AES 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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