Royal Bank Of Canada reissued their hold rating on shares of The AES Corporation (NYSE:AES) in a research report sent to investors on Monday. They currently have a $12.00 target price on the utilities provider’s stock.
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded The AES Corporation from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Wednesday, July 12th. ValuEngine upgraded The AES Corporation from a hold rating to a buy rating in a report on Tuesday, July 25th. BidaskClub upgraded The AES Corporation from a strong sell rating to a sell rating in a report on Monday, July 24th. Finally, Morgan Stanley reiterated an equal weight rating on shares of The AES Corporation in a report on Monday, July 10th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $12.40.
Shares of The AES Corporation (NYSE AES) opened at 11.27 on Monday. The company has a 50-day moving average of $11.18 and a 200-day moving average of $11.32. The AES Corporation has a 12-month low of $10.60 and a 12-month high of $13.32. The stock’s market capitalization is $7.44 billion.
The AES Corporation (NYSE:AES) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $2.97 billion. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Equities analysts expect that The AES Corporation will post $1.05 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.48 dividend on an annualized basis and a yield of 4.26%. The AES Corporation’s dividend payout ratio is currently -42.10%.
A number of large investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC increased its holdings in The AES Corporation by 20.5% in the second quarter. Balyasny Asset Management LLC now owns 288,539 shares of the utilities provider’s stock worth $3,206,000 after buying an additional 48,995 shares during the last quarter. Hancock Holding Co. increased its holdings in The AES Corporation by 15.8% in the second quarter. Hancock Holding Co. now owns 97,402 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 13,293 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in The AES Corporation by 60.6% in the second quarter. Parametric Portfolio Associates LLC now owns 2,756,793 shares of the utilities provider’s stock worth $30,628,000 after buying an additional 1,040,302 shares during the last quarter. Cibc World Markets Corp increased its holdings in The AES Corporation by 14.7% in the second quarter. Cibc World Markets Corp now owns 191,283 shares of the utilities provider’s stock worth $2,125,000 after buying an additional 24,444 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in The AES Corporation in the second quarter worth approximately $5,339,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
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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