The AES Corporation (NYSE:AES – Get Free Report)’s stock price passed below its 50 day moving average during trading on Friday. The stock has a 50 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 trading hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Seven investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.83.
Get Our Latest Analysis on AES
AES Trading Down 1.4%
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 business has a fifty day moving average price of $14.87 and a 200 day moving average price of $14.76. 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 – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.11 billion. AES had a return on equity of 20.69% and a net margin of 14.30%. On average, equities analysts expect that The AES Corporation will post 2.02 EPS for the current fiscal year.
AES Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.1759 per share. This represents a $0.70 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, October 30th. AES’s dividend payout ratio is presently 26.72%.
Institutional Trading of AES
Hedge funds have recently bought and sold shares of the stock. Rakuten Investment Management Inc. increased its holdings in shares of AES by 8.0% during 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 during the third quarter valued at about $2,719,000. CHICAGO TRUST Co NA raised its position in shares of AES by 8.3% during the third quarter. CHICAGO TRUST Co NA now owns 29,935 shares of the utilities provider’s stock valued at $446,000 after buying an additional 2,283 shares during the last quarter. Choreo LLC lifted its stake in shares of AES by 7.3% in the third quarter. Choreo LLC now owns 13,627 shares of the utilities provider’s stock valued at $203,000 after buying an additional 932 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of AES by 7.7% in the third quarter. Asset Management One Co. Ltd. now owns 31,720 shares of the utilities provider’s stock valued at $473,000 after buying an additional 2,268 shares during the period. 93.13% of the stock is owned by institutional investors.
About AES
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.
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