AES (NYSE:AES) Hits New 12-Month High – Here’s What Happened

The AES Corporation (NYSE:AES)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $17.15 and last traded at $17.1530, with a volume of 636091 shares. The stock had previously closed at $16.25.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley set a $23.00 target price on AES in a research report on Friday, February 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of AES in a report on Monday, December 29th. Argus raised shares of AES from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, December 5th. Barclays reiterated an “equal weight” rating and set a $15.00 target price on shares of AES in a research report on Wednesday, February 4th. Finally, Mizuho boosted their price target on shares of AES from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

AES Trading Up 6.3%

The firm’s 50 day moving average is $15.01 and its 200 day moving average is $14.16. The company has a debt-to-equity ratio of 3.15, a current ratio of 0.72 and a quick ratio of 0.66. The company has a market cap of $12.30 billion, a PE ratio of 10.81, a PEG ratio of 0.61 and a beta of 1.00.

AES Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.176 dividend. The ex-dividend date of this dividend is Friday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 4.1%. AES’s dividend payout ratio is presently 43.75%.

Hedge Funds Weigh In On AES

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AES. SG Americas Securities LLC raised its stake in AES by 128.6% during the fourth quarter. SG Americas Securities LLC now owns 7,147,438 shares of the utilities provider’s stock valued at $102,494,000 after buying an additional 4,021,385 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of AES by 975.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,086,164 shares of the utilities provider’s stock valued at $32,466,000 after acquiring an additional 2,799,148 shares in the last quarter. Sound Shore Management Inc CT raised its position in shares of AES by 32.3% in the 2nd quarter. Sound Shore Management Inc CT now owns 8,067,687 shares of the utilities provider’s stock worth $84,872,000 after purchasing an additional 1,969,741 shares during the last quarter. Sound Shore Management Inc. CT boosted its stake in AES by 17.0% in the 4th quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider’s stock worth $98,922,000 after purchasing an additional 1,002,530 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in AES by 10.9% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 7,812,629 shares of the utilities provider’s stock valued at $82,189,000 after purchasing an additional 769,168 shares during the last quarter. 93.13% of the stock is currently owned by hedge funds and other institutional investors.

AES Company Profile

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.