AES Corp (NYSE:AES) has earned a consensus rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $13.00.
Several research analysts have weighed in on the stock. Bank of America downgraded shares of AES from a “neutral” rating to an “underperform” rating and set a $12.50 price objective on the stock. in a report on Monday, July 2nd. UBS Group upped their price objective on shares of AES from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, June 20th. Zacks Investment Research downgraded shares of AES from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Morgan Stanley assumed coverage on shares of AES in a report on Friday, April 27th. They set a “weight” rating and a $13.50 price objective on the stock. Finally, ValuEngine upgraded shares of AES from a “hold” rating to a “buy” rating in a report on Friday, April 27th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in shares of AES by 4.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 257,940 shares of the utilities provider’s stock worth $3,460,000 after acquiring an additional 10,129 shares in the last quarter. Canal Insurance CO grew its stake in shares of AES by 37.9% in the 2nd quarter. Canal Insurance CO now owns 200,000 shares of the utilities provider’s stock worth $2,682,000 after acquiring an additional 55,000 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of AES by 17.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 198,508 shares of the utilities provider’s stock worth $2,662,000 after acquiring an additional 29,527 shares in the last quarter. Summit Global Investments bought a new stake in shares of AES in the 2nd quarter worth $1,422,000. Finally, Great West Life Assurance Co. Can grew its stake in shares of AES by 9.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 1,185,886 shares of the utilities provider’s stock worth $15,926,000 after acquiring an additional 98,484 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.
AES (NYSE:AES) last released its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). AES had a positive return on equity of 19.26% and a negative net margin of 1.87%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $3.41 billion. sell-side analysts expect that AES will post 1.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Friday, August 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $0.52 annualized dividend and a dividend yield of 3.83%. AES’s payout ratio is 48.15%.
AES Company Profile
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.
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