The AES Corporation (NYSE:AES) declared a quarterly dividend on Friday, October 13th, RTT News reports. Investors of record on Wednesday, November 1st will be given a dividend of 0.12 per share by the utilities provider on Wednesday, November 15th. This represents a $0.48 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, October 31st.
The AES Corporation has increased its dividend by an average of 40.1% per year over the last three years and has raised its dividend every year for the last 4 years. The AES Corporation has a payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The AES Corporation to earn $1.22 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 39.3%.
The AES Corporation (AES) opened at 10.78 on Monday. The company’s market cap is $7.12 billion. The company has a 50-day moving average price of $11.18 and a 200 day moving average price of $11.30. The AES Corporation has a 12-month low of $10.60 and a 12-month high of $12.48.
The AES Corporation (NYSE:AES) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts forecast that The AES Corporation will post $1.03 EPS for the current fiscal year.
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AES has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating on shares of The AES Corporation in a research note on Monday, July 10th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $15.00 price target on shares of The AES Corporation in a research note on Wednesday, September 13th. Bank of America Corporation raised The AES Corporation from an “underperform” rating to a “neutral” rating and set a $11.50 price target for the company in a research note on Tuesday, October 24th. Zacks Investment Research cut The AES Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. Finally, BidaskClub cut The AES Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.63.
About The AES Corporation
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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