An issue of AES Corp (NYSE:AES) bonds rose 2.4% against their face value during trading on Thursday. The debt issue has a 7.25% coupon and will mature on October 15, 2021. The bonds in the issue are now trading at $106.38 and were trading at $106.25 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
A number of equities research analysts have recently commented on the stock. Argus reiterated a “hold” rating on shares of AES Corp in a report on Thursday, March 23rd. Zacks Investment Research cut shares of AES Corp from a “buy” rating to a “hold” rating in a report on Friday, February 17th. Finally, Royal Bank of Canada cut shares of AES Corp from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $13.00 to $12.00 in a report on Wednesday, January 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.33.
AES Corp (NYSE:AES) traded down 0.394% during mid-day trading on Friday, reaching $11.375. 3,766,601 shares of the company’s stock traded hands. AES Corp has a 12 month low of $10.49 and a 12 month high of $13.32. The stock’s market capitalization is $7.50 billion. The firm’s 50-day moving average price is $11.26 and its 200 day moving average price is $11.55.
AES Corp (NYSE:AES) last posted its earnings results on Monday, February 27th. The utilities provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by $0.01. The firm earned $3.54 billion during the quarter, compared to the consensus estimate of $5.29 billion. AES Corp had a negative net margin of 1.95% and a positive return on equity of 14.01%. AES Corp’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. Equities research analysts predict that AES Corp will post $1.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.48 annualized dividend and a dividend yield of 4.20%. AES Corp’s payout ratio is -117.07%.
Several large investors have recently modified their holdings of the stock. Pinnacle Bank bought a new stake in shares of AES Corp during the first quarter valued at $411,000. Silvercrest Asset Management Group LLC boosted its stake in shares of AES Corp by 2.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 12,304 shares of the utilities provider’s stock valued at $143,000 after buying an additional 294 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of AES Corp by 5.3% in the first quarter. Fulton Bank N.A. now owns 15,391 shares of the utilities provider’s stock valued at $172,000 after buying an additional 780 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of AES Corp by 11.2% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 17,754 shares of the utilities provider’s stock valued at $198,000 after buying an additional 1,785 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of AES Corp during the fourth quarter valued at $248,000. 93.97% of the stock is owned by institutional investors.
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AES Corp 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.
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