Bank of America Corporation upgraded shares of The AES Corporation (NYSE:AES) from a neutral rating to a buy rating in a research note published on Monday morning, Marketbeat Ratings reports. Bank of America Corporation currently has $12.00 target price on the utilities provider’s stock.
AES has been the subject of several other research reports. ValuEngine downgraded shares of The AES Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. BidaskClub raised shares of The AES Corporation from a strong sell rating to a sell rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised shares of The AES Corporation from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Tuesday, September 5th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $12.00 price objective on shares of The AES Corporation in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $12.75.
The AES Corporation (NYSE:AES) traded down $0.10 on Monday, reaching $10.77. The company had a trading volume of 5,917,000 shares, compared to its average volume of 5,335,495. The stock has a market capitalization of $7,178.40, a price-to-earnings ratio of 10.76, a P/E/G ratio of 1.30 and a beta of 1.22. The AES Corporation has a 12 month low of $10.00 and a 12 month high of $12.47. The company has a current ratio of 0.99, a quick ratio of 0.89 and a debt-to-equity ratio of 3.20.
The AES Corporation (NYSE:AES) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.63 billion. The AES Corporation had a positive return on equity of 15.14% and a negative net margin of 5.43%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. analysts predict that The AES Corporation will post 1.02 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Tuesday, October 31st. The AES Corporation’s dividend payout ratio is presently -41.03%.
In related news, CFO Thomas M. O’flynn purchased 9,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $10.64 per share, with a total value of $101,080.00. Following the completion of the purchase, the chief financial officer now owns 219,131 shares of the company’s stock, valued at approximately $2,331,553.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Santos Bernerd Da purchased 4,700 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $10.60 per share, with a total value of $49,820.00. Following the purchase, the chief operating officer now directly owns 96,186 shares of the company’s stock, valued at approximately $1,019,571.60. The disclosure for this purchase can be found here. Insiders have bought 38,832 shares of company stock valued at $401,407 in the last ninety days. Insiders own 1.09% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Cypress Capital Group bought a new position in The AES Corporation in the third quarter worth approximately $138,000. Sterling Capital Management LLC raised its stake in The AES Corporation by 171.0% in the third quarter. Sterling Capital Management LLC now owns 82,609 shares of the utilities provider’s stock worth $910,000 after buying an additional 52,127 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in The AES Corporation in the third quarter worth $668,000. Capital International Investors grew its holdings in The AES Corporation by 2.4% in the third quarter. Capital International Investors now owns 24,125,215 shares of the utilities provider’s stock worth $265,860,000 after purchasing an additional 567,371 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in The AES Corporation by 7.4% in the third quarter. Pinebridge Investments L.P. now owns 821,040 shares of the utilities provider’s stock worth $9,048,000 after purchasing an additional 56,826 shares during the last quarter. 94.25% of the stock is owned by institutional investors.
The AES Corporation Company Profile
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.
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