BidaskClub upgraded shares of The AES Corporation (NYSE:AES) from a strong sell rating to a sell rating in a research note released on Wednesday morning.
A number of other analysts have also issued reports on the company. Zacks Investment Research upgraded The AES Corporation from a hold rating to a buy rating and set a $12.00 target price for the company in a report on Wednesday, July 12th. ValuEngine upgraded The AES Corporation from a hold rating to a buy rating in a report on Tuesday, July 25th. Finally, Morgan Stanley restated an equal weight rating on shares of The AES Corporation in a report on Monday, July 10th. Three research 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’s stock. The company presently has an average rating of Hold and an average price target of $12.00.
The AES Corporation (AES) opened at 11.43 on Wednesday. The stock’s market capitalization is $7.55 billion. The AES Corporation has a 12-month low of $10.60 and a 12-month high of $13.32. The stock’s 50 day moving average price is $11.17 and its 200-day moving average price is $11.36.
The AES Corporation (NYSE:AES) last released 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 company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $2.97 billion. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts expect that The AES Corporation will post $1.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.20%. The ex-dividend date was Tuesday, August 1st. The AES Corporation’s payout ratio is -42.10%.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in The AES Corporation by 5,080.9% in the first quarter. BlackRock Inc. now owns 68,829,027 shares of the utilities provider’s stock valued at $769,510,000 after buying an additional 67,500,500 shares during the last quarter. Vanguard Group Inc. increased its position in The AES Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 77,076,177 shares of the utilities provider’s stock valued at $861,713,000 after buying an additional 3,406,863 shares during the last quarter. Bank of New York Mellon Corp increased its position in The AES Corporation by 29.1% in the first quarter. Bank of New York Mellon Corp now owns 11,702,896 shares of the utilities provider’s stock valued at $130,838,000 after buying an additional 2,638,095 shares during the last quarter. Prudential Financial Inc. increased its position in The AES Corporation by 28.1% in the first quarter. Prudential Financial Inc. now owns 9,761,070 shares of the utilities provider’s stock valued at $109,129,000 after buying an additional 2,142,100 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in The AES Corporation during the second quarter valued at approximately $20,890,000. 93.49% of the stock is currently owned by hedge funds and other institutional investors.
About The AES Corporation
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.
Receive News & Ratings for The AES Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The AES Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
