AES (NYSE:AES) Reaches New 52-Week High – Should You Buy?

The AES Corporation (NYSE:AES) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $17.15 and last traded at $17.1530, with a volume of 636091 shares. The stock had previously closed at $16.25.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of AES from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Jefferies Financial Group lifted their target price on AES from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, February 3rd. Morgan Stanley set a $23.00 price target on AES in a report on Friday, February 20th. Argus raised AES from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of AES in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

AES Trading Up 6.3%

The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 3.15. The stock has a market capitalization of $12.30 billion, a PE ratio of 10.81, a P/E/G ratio of 0.61 and a beta of 1.00. The stock has a 50 day moving average price of $15.01 and a 200-day moving average price of $14.16.

AES Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.176 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, May 1st. AES’s payout ratio is currently 43.75%.

Hedge Funds Weigh In On AES

A number of institutional investors and hedge funds have recently made changes to their positions in AES. Dorsey & Whitney Trust CO LLC grew its position in AES by 4.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 14,658 shares of the utilities provider’s stock valued at $210,000 after buying an additional 671 shares during the period. New Mexico Educational Retirement Board grew its position in shares of AES by 2.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 32,922 shares of the utilities provider’s stock valued at $472,000 after acquiring an additional 800 shares during the period. Zions Bancorporation National Association UT increased its stake in shares of AES by 3.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 28,581 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 852 shares in the last quarter. S&CO Inc. raised its holdings in AES by 6.3% in the 4th quarter. S&CO Inc. now owns 17,000 shares of the utilities provider’s stock worth $243,000 after purchasing an additional 1,000 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in AES by 50.8% during the third quarter. TD Private Client Wealth LLC now owns 3,401 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 1,146 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.