The AES Corporation (AES) Stock Price Up -0.7% Following Insider Buying Activity
The AES Corporation (NYSE:AES)’s share price rose 0.7% during mid-day trading on Monday following insider buying activity. The company traded as high as $10.84 and last traded at $10.23. Approximately 26,490,400 shares changed hands during mid-day trading, an increase of 401% from the average daily volume of 5,290,420 shares. The stock had previously closed at $10.30.
Specifically, CFO Thomas M. O’flynn bought 9,500 shares of The AES Corporation stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $10.64 per share, for a total transaction of $101,080.00. Following the completion of the transaction, the chief financial officer now directly owns 219,131 shares in the company, valued at $2,331,553.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andres Gluski bought 24,632 shares of The AES Corporation stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average price of $10.17 per share, with a total value of $250,507.44. Following the completion of the transaction, the insider now owns 868,396 shares of the company’s stock, valued at $8,831,587.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 38,832 shares of company stock valued at $401,407. 1.09% of the stock is owned by company insiders.
AES has been the subject of a number of research reports. BidaskClub upgraded The AES Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. ValuEngine upgraded The AES Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded The AES Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, August 17th. Morgan Stanley reiterated an “equal weight” rating on shares of The AES Corporation in a report on Friday, September 8th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $12.00 price objective on shares of The AES Corporation in a report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The AES Corporation has an average rating of “Hold” and an average target price of $12.75.
The company has a debt-to-equity ratio of 3.20, a current ratio of 0.99 and a quick ratio of 0.89. The firm has a market capitalization of $6,755.75, a price-to-earnings ratio of 10.13, a PEG ratio of 1.03 and a beta of 1.22.
The AES Corporation (NYSE:AES) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.63 billion. The AES Corporation had a negative net margin of 5.43% and a positive return on equity of 15.14%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. analysts anticipate that The AES Corporation will post 1.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Tuesday, October 31st. The AES Corporation’s dividend payout ratio is presently -41.03%.
A number of hedge funds have recently modified their holdings of the stock. Capital International Investors boosted its holdings in The AES Corporation by 2.4% during the 3rd quarter. Capital International Investors now owns 24,125,215 shares of the utilities provider’s stock valued at $265,860,000 after acquiring an additional 567,371 shares during the period. Pinebridge Investments L.P. boosted its holdings in The AES Corporation by 7.4% during the 3rd quarter. Pinebridge Investments L.P. now owns 821,040 shares of the utilities provider’s stock valued at $9,048,000 after acquiring an additional 56,826 shares during the period. Barings LLC boosted its holdings in The AES Corporation by 806.5% during the 3rd quarter. Barings LLC now owns 180,064 shares of the utilities provider’s stock valued at $1,984,000 after acquiring an additional 160,200 shares during the period. Schroder Investment Management Group boosted its holdings in The AES Corporation by 39.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,091,840 shares of the utilities provider’s stock valued at $12,098,000 after acquiring an additional 307,915 shares during the period. Finally, ETRADE Capital Management LLC boosted its holdings in The AES Corporation by 25.3% during the 3rd quarter. ETRADE Capital Management LLC now owns 62,722 shares of the utilities provider’s stock valued at $691,000 after acquiring an additional 12,669 shares during the period. Institutional investors own 94.25% of the company’s stock.
WARNING: This report was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/11/15/the-aes-corporation-aes-stock-price-up-0-7-following-insider-buying-activity.html.
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.
Receive News & Stock Ratings for The AES Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The AES Corporation and related stocks with our FREE daily email newsletter.