The AES Co. (NYSE:AES - Get Free Report) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $10.38, but opened at $11.05. AES shares last traded at $11.18, with a volume of 3,256,144 shares trading hands.
The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. The firm had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.07 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. During the same period in the previous year, the company earned $0.73 EPS.
AES Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.176 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.70 annualized dividend and a dividend yield of 6.30%. AES's dividend payout ratio is presently 48.61%.
Analyst Ratings Changes
Several brokerages have recently issued reports on AES. Susquehanna lowered their price objective on shares of AES from $24.00 to $21.00 and set a "positive" rating for the company in a research note on Tuesday, November 5th. Bank of America initiated coverage on shares of AES in a report on Monday, November 25th. They set an "underperform" rating and a $11.00 target price on the stock. Barclays reduced their target price on shares of AES from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Mizuho reduced their target price on shares of AES from $24.00 to $16.00 and set an "outperform" rating on the stock in a report on Thursday, November 21st. Finally, Hsbc Global Res upgraded shares of AES to a "strong-buy" rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.80.
Read Our Latest Stock Report on AES
Institutional Investors Weigh In On AES
Several institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp bought a new position in AES during the third quarter valued at approximately $28,000. SRS Capital Advisors Inc. raised its position in AES by 190.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,412 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 1,581 shares in the last quarter. Optiver Holding B.V. raised its position in AES by 79.5% during the fourth quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 1,201 shares in the last quarter. WR Wealth Planners LLC raised its position in AES by 93.3% during the fourth quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 1,369 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of AES in the third quarter valued at approximately $63,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.
AES Stock Performance
The company has a market cap of $7.95 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The stock's 50-day moving average price is $11.51 and its 200 day moving average price is $14.52.
About AES
(
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The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.
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