The AES Corporation (AES) Upgraded to “Buy” at Bank of America Corporation

Bank of America Corporation upgraded shares of The AES Corporation (NYSE:AES) from a neutral rating to a buy rating in a research note issued to investors on Monday morning. They currently have $12.00 price objective on the utilities provider’s stock.

A number of other brokerages have also recently commented on AES. Zacks Investment Research cut shares of The AES Corporation from a buy rating to a sell rating in a report on Monday, September 11th. Morgan Stanley reaffirmed an equal weight rating on shares of The AES Corporation in a report on Friday, September 8th. ValuEngine raised shares of The AES Corporation from a hold rating to a buy rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $15.00 target price on shares of The AES Corporation in a report on Wednesday, September 13th. Finally, BidaskClub raised shares of The AES Corporation from a strong sell rating to a sell rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $12.75.

Shares of The AES Corporation (NYSE:AES) traded up $0.59 during trading on Monday, hitting $10.82. 8,512,700 shares of the stock were exchanged, compared to its average volume of 5,305,134. The firm has a market cap of $6,755.75, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.03 and a beta of 1.22. The AES Corporation has a fifty-two week low of $10.00 and a fifty-two 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 AES Corporation (NYSE:AES) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.63 billion. The AES Corporation had a negative net margin of 5.43% and a positive return on equity of 15.14%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. equities analysts expect that The AES Corporation will post 1.02 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “The AES Corporation (AES) Upgraded to “Buy” at Bank of America Corporation” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://sportsperspectives.com/2017/11/14/the-aes-corporation-aes-upgraded-to-buy-at-bank-of-america-corporation.html.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a $0.12 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $0.48 annualized dividend and a yield of 4.44%. The AES Corporation’s dividend payout ratio is currently -41.03%.

In other news, CFO Thomas M. O’flynn acquired 9,500 shares of the company’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $10.64 per share, with a total value of $101,080.00. Following the purchase, the chief financial officer now owns 219,131 shares of the company’s stock, valued at approximately $2,331,553.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andres Gluski acquired 24,632 shares of the company’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $10.17 per share, for a total transaction of $250,507.44. Following the completion of the purchase, the insider now directly owns 868,396 shares in the company, valued at approximately $8,831,587.32. The disclosure for this purchase can be found here. Insiders own 1.09% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial For Lutherans boosted its position in shares of The AES Corporation by 6.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 24,270 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 1,420 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of The AES Corporation by 4.9% during the 2nd quarter. LS Investment Advisors LLC now owns 34,125 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 1,602 shares in the last quarter. Foster & Motley Inc. boosted its position in shares of The AES Corporation by 17.6% during the 2nd quarter. Foster & Motley Inc. now owns 27,976 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 4,187 shares in the last quarter. Huntington National Bank boosted its position in shares of The AES Corporation by 62.7% during the 2nd quarter. Huntington National Bank now owns 14,257 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 5,492 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in shares of The AES Corporation by 14.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 50,698 shares of the utilities provider’s stock worth $563,000 after purchasing an additional 6,283 shares in the last quarter. 94.25% of the stock is currently owned by 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.

Analyst Recommendations for The AES Corporation (NYSE:AES)

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.

Latest News

Leave a Reply