The AES Corporation (NYSE:AES) Receives $15.71 Consensus Price Target from Brokerages

The AES Corporation (NYSE:AES) has received an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.7143.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of AES in a research note on Monday, June 1st.

AES Stock Up 0.2%

AES stock opened at $14.72 on Thursday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.65 and a current ratio of 0.75. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 7.87 and a beta of 0.97. The business’s 50 day moving average price is $14.71 and its two-hundred day moving average price is $14.75. AES has a fifty-two week low of $12.33 and a fifty-two week high of $17.65.

AES (NYSE:AES) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. AES had a net margin of 14.30% and a return on equity of 21.49%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.11 billion. As a group, analysts forecast that AES will post 2.27 earnings per share for the current fiscal year.

AES Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.176 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, July 31st. AES’s payout ratio is currently 37.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in AES in the second quarter worth $722,429,000. SG Americas Securities LLC lifted its position in AES by 99.8% during the first quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock valued at $201,215,000 after purchasing an additional 7,133,230 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of AES in the 2nd quarter worth $97,056,000. Deutsche Bank AG bought a new position in shares of AES in the 2nd quarter valued at about $35,158,000. Finally, Kryger Capital LLC bought a new position in shares of AES in the 1st quarter valued at about $31,702,000. Institutional investors own 93.13% of the company’s stock.

About AES

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.