The AES Co. (AES) Upgraded at Bank of America Corporation
Bank of America Corporation upgraded shares of The AES Co. (NYSE:AES) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat.com reports. The firm currently has $12.00 price objective on the utilities provider’s stock.
A number of other research analysts have also commented on AES. BidaskClub upgraded shares of The AES from a strong sell rating to a sell rating in a research note on Monday, July 24th. ValuEngine upgraded shares of The AES from a hold rating to a buy rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of The AES from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Thursday, August 17th. Morgan Stanley reissued an equal weight rating on shares of The AES in a report on Friday, September 8th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $12.00 price objective on shares of The AES in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $12.75.
Shares of The AES (NYSE:AES) traded up $0.03 on Monday, reaching $10.87. 6,803,000 shares of the company were exchanged, compared to its average volume of 5,332,863. The AES has a twelve month low of $10.00 and a twelve month high of $12.47. The firm has a market cap of $7,158.59, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.30 and a beta of 1.22. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.89 and a current ratio of 0.99.
The AES (NYSE:AES) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.05). The AES had a net margin of 6.53% and a return on equity of 19.64%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. analysts anticipate that The AES will post 1.02 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Tuesday, October 31st. The AES’s dividend payout ratio is currently -41.03%.
In other news, COO Santos Bernerd Da purchased 4,700 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $10.60 per share, with a total value of $49,820.00. Following the acquisition, the chief operating officer now owns 96,186 shares in the company, valued at approximately $1,019,571.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andres Gluski purchased 24,632 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were purchased at an average cost of $10.17 per share, with a total value of $250,507.44. Following the acquisition, the insider now owns 868,396 shares in the company, valued at approximately $8,831,587.32. The disclosure for this purchase can be found here. Insiders acquired a total of 38,832 shares of company stock valued at $401,407 in the last three months. Insiders own 1.09% of the company’s stock.
Several institutional investors have recently modified their holdings of AES. Ffcm LLC lifted its holdings in shares of The AES by 171.8% during the 2nd quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 6,634 shares during the period. Community Bank & Trust Waco Texas bought a new stake in shares of The AES during the 2nd quarter worth approximately $134,000. Cypress Capital Group bought a new stake in shares of The AES during the 3rd quarter worth approximately $138,000. Huntington National Bank lifted its holdings in shares of The AES by 62.7% during the 2nd quarter. Huntington National Bank now owns 14,257 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 5,492 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of The AES by 80.5% during the 2nd quarter. IFP Advisors Inc now owns 20,452 shares of the utilities provider’s stock worth $227,000 after acquiring an additional 9,123 shares during the period. 94.25% of the stock is owned by institutional investors.
The AES 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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