In yesterday’s Wall Street session, The AES Corporation (NYSE:AES) shares traded at $21.83, down -1.22% from the previous session.
As of this writing, 11 analysts cover The AES Corporation (NYSE:AES). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $33.00 and a low of $23.00, we find $29.50. Given the previous closing price of $22.10, this indicates a potential upside of 33.48 percent. AES stock price is now 4.18% away from the 50-day moving average and -11.24% away from the 200-day moving average. The market capitalization of the company currently stands at $14.77B.
There are 3 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $29.00 as their price target over the next twelve months.
With the price target reduced from $24 to $23, BofA Securities Downgraded its rating from Buy to Neutral for The AES Corporation (NYSE: AES).
In other news, Gluski Andres, President and CEO sold 748,625 shares of the company’s stock on Dec 28. The stock was sold for $21,283,409 at an average price of $28.43. Upon completion of the transaction, the President and CEO now directly owns 1,285,504 shares in the company, valued at $28.06 million. Insiders disposed of 937,717 shares of company stock worth roughly $20.47 million over the past 1 year. A total of 0.38% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AES stock. A new stake in The AES Corporation shares was purchased by EMPOWER ADVISORY GROUP, LLC during the first quarter worth $48,534,000. ADAMS DIVERSIFIED EQUITY FUND, INC. invested $12,716,000 in shares of AES during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in The AES Corporation valued at approximately $6,650,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in AES for approximately $6,030,000. BLUECREST CAPITAL MANAGEMENT LTD purchased a new stake in AES valued at around $4,235,000 in the second quarter. In total, there are 945 active investors with 97.40% ownership of the company’s stock.
Thursday morning saw The AES Corporation (NYSE: AES) opened at $22.12. During the past 12 months, The AES Corporation has had a low of $19.38 and a high of $29.89. As of last week, the company has a debt-to-equity ratio of 16.29, a current ratio of 1.10, and a quick ratio of 1.00. The fifty day moving average price for AES is $20.96 and a two-hundred day moving average price translates $24.59 for the stock.
The latest earnings results from The AES Corporation (NYSE: AES) was released for Mar, 2023. According to the Utilities – Diversified Company, earnings per share came in at $0.22, missing analysts’ expectations of $0.23 by -0.01. This compares to $0.16 EPS in the same period last year. The net profit margin was -3.90% and return on equity was -26.00% for AES. The company reported revenue of $3.24 billion for the quarter, compared to $2.85 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.57 percent. For the current quarter, analysts expect AES to generate $2.95B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 08/01/2023 were paid a $0.1659 dividend. On an annualized basis, this represents a $0.66 dividend and a 3.04% percent yield. There was an ex-dividend date of 07/31/2023 for this dividend.
The AES Corporation(AES) Company Profile
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market. It uses a range of fuels and technologies to generate electricity, including coal, gas, hydro, wind, solar, and biomass; and renewables, such as energy storage and landfill gas. The company owns and/or operates a generation portfolio of approximately 32,326 megawatts. It has operations in the United States, Puerto Rico, El Salvador, Chile, Colombia, Argentina, Brazil, Mexico, Central America, the Caribbean, Europe, and Asia. The company was formerly known as Applied Energy Services, Inc. and changed its name to The AES Corporation in April 2000. The AES Corporation was incorporated in 1981 and is headquartered in Arlington, Virginia.
