AES (NYSE:AES) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

AES (NYSE:AES) issued its earnings results on Tuesday. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15, FiscalAI reports. AES had a net margin of 10.78% and a return on equity of 22.66%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.11 billion.

AES Stock Performance

Shares of NYSE:AES traded down $0.03 during trading on Tuesday, reaching $14.69. 6,856,505 shares of the stock were exchanged, compared to its average volume of 10,936,020. AES has a 12 month low of $12.33 and a 12 month high of $17.65. The stock has a 50-day moving average price of $14.71 and a 200-day moving average price of $14.74. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 2.97. The firm has a market cap of $10.47 billion, a PE ratio of 7.85 and a beta of 0.97.

AES Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.176 per share. The ex-dividend date is Friday, July 31st. This represents a $0.70 annualized dividend and a yield of 4.8%. AES’s dividend payout ratio (DPR) is 37.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AES in a report on Monday, June 1st. Susquehanna downgraded AES from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Thursday, April 9th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.71.

Institutional Trading of AES

Hedge funds have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC increased its position in shares of AES by 4.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 14,658 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 671 shares during the period. Zions Bancorporation National Association UT boosted its holdings in shares of AES by 3.1% in the fourth quarter. Zions Bancorporation National Association UT now owns 28,581 shares of the utilities provider’s stock valued at $410,000 after purchasing an additional 852 shares during the period. Los Angeles Capital Management LLC bought a new position in AES in the fourth quarter worth approximately $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AES by 6.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,745 shares of the utilities provider’s stock worth $854,000 after purchasing an additional 3,936 shares during the period. Finally, Gould Capital LLC increased its holdings in AES by 3.2% during the 2nd quarter. Gould Capital LLC now owns 253,531 shares of the utilities provider’s stock worth $2,667,000 after purchasing an additional 7,766 shares during the period. 93.13% of the stock is owned by institutional investors and hedge funds.

About AES

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.