AES Corp (NYSE:AES) Receives $16.77 Consensus Price Target from Brokerages

AES Corp (NYSE:AES) has been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $16.77.

AES has been the subject of several research reports. ValuEngine downgraded AES from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet downgraded AES from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Evercore ISI set a $19.00 price target on AES and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and set a $16.57 price target for the company in a research note on Thursday, June 20th. Finally, Zacks Investment Research upgraded AES from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, June 4th.

In other news, Director Jeffrey W. Ubben purchased 200,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.25 per share, for a total transaction of $3,050,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. bought a new position in AES in the 1st quarter worth about $30,000. Reilly Financial Advisors LLC bought a new position in AES in the 1st quarter worth about $36,000. Wealthcare Advisory Partners LLC bought a new position in AES in the 2nd quarter worth about $36,000. Lee Financial Co bought a new position in AES in the 1st quarter worth about $54,000. Finally, Focused Wealth Management Inc bought a new position in AES in the 2nd quarter worth about $75,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Shares of AES stock traded down $0.41 during trading hours on Monday, hitting $14.79. 3,727,362 shares of the company’s stock traded hands, compared to its average volume of 5,555,318. AES has a 12-month low of $13.00 and a 12-month high of $18.52. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.35 and a beta of 1.03. The company has a fifty day simple moving average of $16.42 and a 200-day simple moving average of $17.00. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.36 and a quick ratio of 1.24.

AES (NYSE:AES) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). AES had a net margin of 3.78% and a return on equity of 18.94%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, analysts forecast that AES will post 1.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.137 per share. This is an increase from AES’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, July 31st. This represents a $0.55 annualized dividend and a dividend yield of 3.71%. AES’s dividend payout ratio is presently 44.35%.

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.

See Also: What are the advantages of the Stochastic Momentum Index?

Receive News & Ratings for AES Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AES and related companies with MarketBeat.com's FREE daily email newsletter.