AES (NYSE:AES) Stock Lifted to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of AES (NYSE:AES) to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded AES from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Seven investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.80.

AES Trading Down 0.1%

AES opened at $14.88 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 2.81. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 5.97 and a beta of 0.95. AES has a 12 month low of $13.28 and a 12 month high of $17.65. The stock has a fifty day moving average price of $14.89 and a 200-day moving average price of $14.79.

AES Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.1759 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, October 30th. AES’s dividend payout ratio is currently 28.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new stake in shares of AES during the second quarter valued at $80,584,000. Tidal Investments LLC increased its position in shares of AES by 188.0% in the 2nd quarter. Tidal Investments LLC now owns 290,604 shares of the utilities provider’s stock valued at $4,260,000 after acquiring an additional 189,691 shares during the period. HBK Investments L P purchased a new position in AES in the 2nd quarter worth $162,298,000. BlackRock Inc. purchased a new position in AES in the 2nd quarter worth $722,429,000. Finally, Corient Private Wealth LP acquired a new stake in AES during the 2nd quarter worth about $1,413,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Company Profile

The AES Corporation is a global power company that develops and operates electricity generation and energy infrastructure. Its portfolio includes renewable energy, natural gas and other power generation, as well as battery energy storage. AES also helps businesses and other customers procure electricity and pursue clean-energy goals.

Founded in 1981 as Applied Energy Services, the company has expanded from its U.S. origins to serve customers across multiple regions, including the Americas, Europe and Asia.